From 0.0828 to 0.0426—less than one candle.
The moves today for $TUT are a bit hard to look at— a 25% drop over 24 hours, with the intraday high-low range close to being cut in half. It’s not the kind of slow grind lower; it feels like the volume was slammed all at once, and price was driven straight through, like drilling a hole.
Looking at the recent 8 hourly candlesticks, none of them has shown a decent rebound—it's all bearish candles pressing bearish candles. Volume is gradually shrinking (from 110 million down to 31 million), but price hasn’t stopped either, which suggests the selling pressure hasn’t been digested yet. Buyers are still hesitating.
The funding rate is only 0.005%, basically zero—there’s no clear bearish positioning in the perpetual contract market. The long/short ratio is 51% vs 49%, basically split down the middle—this means there’s no real “consensus” inside the market right now. Everyone is watching and no one dares to take a big position and bet on a direction.
Open interest is still sitting at about $357 million. This batch of positions that hasn’t exited—either they’re holding for a rebound, or they’re already stuck in losses. If price continues to probe the lows around 0.0426, how these positions decide is worth keeping an eye on.
It’s not saying it will definitely fall further. But this kind of structure—volume contracting bearish candles, funding in a wait-and-see mode, and the low not broken yet but getting close—usually needs a clear directional signal to move decisively. If the low breaks, you look lower; if it holds, there’s a possibility of a rebound.
$TUT #crashdown25% #highlowrangehalved
Click the small card below to quickly view the行情👇
The moves today for $TUT are a bit hard to look at— a 25% drop over 24 hours, with the intraday high-low range close to being cut in half. It’s not the kind of slow grind lower; it feels like the volume was slammed all at once, and price was driven straight through, like drilling a hole.
Looking at the recent 8 hourly candlesticks, none of them has shown a decent rebound—it's all bearish candles pressing bearish candles. Volume is gradually shrinking (from 110 million down to 31 million), but price hasn’t stopped either, which suggests the selling pressure hasn’t been digested yet. Buyers are still hesitating.
The funding rate is only 0.005%, basically zero—there’s no clear bearish positioning in the perpetual contract market. The long/short ratio is 51% vs 49%, basically split down the middle—this means there’s no real “consensus” inside the market right now. Everyone is watching and no one dares to take a big position and bet on a direction.
Open interest is still sitting at about $357 million. This batch of positions that hasn’t exited—either they’re holding for a rebound, or they’re already stuck in losses. If price continues to probe the lows around 0.0426, how these positions decide is worth keeping an eye on.
It’s not saying it will definitely fall further. But this kind of structure—volume contracting bearish candles, funding in a wait-and-see mode, and the low not broken yet but getting close—usually needs a clear directional signal to move decisively. If the low breaks, you look lower; if it holds, there’s a possibility of a rebound.
$TUT #crashdown25% #highlowrangehalved
Click the small card below to quickly view the行情👇
