TAC surged 63% in three days. The price is still hovering just above the one-day high at 0.002787, but the futures leverage that pushed it higher is being pulled out: over the past 7 hours, open interest dropped 11%. The funding rate plunged from an average of 0.03% to 0.005%, and the basis has shrunk by a third. The uptrend is still there, but the long positions that pay to hold are gone.
What’s tangled is the situation on the whale side. In their accounts, 53% is long—looks lively—but when you calculate by notional positions, the whale long-to-short ratio is only 0.917, which is net short. Their large positions are taking profits as the price is lifted. As for retail traders, active buy orders still account for 56.5% and, over the last 7 hours, trading volume expanded by 31.8%. The more people chase, the more aggressive they get—meanwhile, sell orders are pressing down on buy orders on the order book (0.716).
Spot flows don’t show any large net inflow. In the last four hours, the six candlesticks are three bearish and three bullish, and the pace of the rise is actually slowing. This looks more like a market driven by sentiment plus leverage rather than real, physical demand.
My stance is short: enter on a rebound around 0.0027, first targeting yesterday’s low at 0.00202. If it breaks, then look for 0.0015. The main risk is small-cap “needle” wicks. If the price trades up and, with volume, holds above 0.00285; if open interest expands again; and if the funding rate returns to above the average, that would indicate the turnover is complete—at which point the short position should cut loss and exit. #tac $TAC
What’s tangled is the situation on the whale side. In their accounts, 53% is long—looks lively—but when you calculate by notional positions, the whale long-to-short ratio is only 0.917, which is net short. Their large positions are taking profits as the price is lifted. As for retail traders, active buy orders still account for 56.5% and, over the last 7 hours, trading volume expanded by 31.8%. The more people chase, the more aggressive they get—meanwhile, sell orders are pressing down on buy orders on the order book (0.716).
Spot flows don’t show any large net inflow. In the last four hours, the six candlesticks are three bearish and three bullish, and the pace of the rise is actually slowing. This looks more like a market driven by sentiment plus leverage rather than real, physical demand.
My stance is short: enter on a rebound around 0.0027, first targeting yesterday’s low at 0.00202. If it breaks, then look for 0.0015. The main risk is small-cap “needle” wicks. If the price trades up and, with volume, holds above 0.00285; if open interest expands again; and if the funding rate returns to above the average, that would indicate the turnover is complete—at which point the short position should cut loss and exit. #tac $TAC
