Fell from 0.91 to 0.13 in a single day.
This isn’t a pullback—it’s a waterfall. Today VELVET’s high touched 0.9126, and now it’s only 0.1469, down nearly 78%. In other words, people who bought at the high point have already seen their money shrink by three quarters.
What’s even more unsettling is the long/short ratio: 68% of contract positions are long. That means more than half the people are now stuck in losses. Either they’ve already been liquidated, or they’re hard-holding on.
In the past 24 hours, trading volume exceeded $350 million. What does this number mean? It shows a large amount of capital is changing hands within this price range—some are cutting losses in the collapse, while others are catching the dip, but nobody knows where the bottom is.
The candlestick chart shows continued weakness over the past 8 hours. Each candle tries to bounce, but every close is lower than the last. Trading volume on the recent candles has also started to shrink. At the moment, 0.1334 is today’s low, barely holding.
The funding rate is almost zero (0.005%), suggesting this isn’t a short-led dumping. More likely, it’s a stampede caused by long positions getting forcibly closed in panic.
Next, the key things to watch are: whether 0.13 can hold, and when that 68% of longs will finally start taking real stop-losses.
$VELVET #crash78% #longs trapped
Click the small card below to quickly check the market situation👇
This isn’t a pullback—it’s a waterfall. Today VELVET’s high touched 0.9126, and now it’s only 0.1469, down nearly 78%. In other words, people who bought at the high point have already seen their money shrink by three quarters.
What’s even more unsettling is the long/short ratio: 68% of contract positions are long. That means more than half the people are now stuck in losses. Either they’ve already been liquidated, or they’re hard-holding on.
In the past 24 hours, trading volume exceeded $350 million. What does this number mean? It shows a large amount of capital is changing hands within this price range—some are cutting losses in the collapse, while others are catching the dip, but nobody knows where the bottom is.
The candlestick chart shows continued weakness over the past 8 hours. Each candle tries to bounce, but every close is lower than the last. Trading volume on the recent candles has also started to shrink. At the moment, 0.1334 is today’s low, barely holding.
The funding rate is almost zero (0.005%), suggesting this isn’t a short-led dumping. More likely, it’s a stampede caused by long positions getting forcibly closed in panic.
Next, the key things to watch are: whether 0.13 can hold, and when that 68% of longs will finally start taking real stop-losses.
$VELVET #crash78% #longs trapped
Click the small card below to quickly check the market situation👇
