ADA 0.2114, bouncing back from that dip around 0.206—it looks like it might turn into a rescue. I flipped the ledger on that spot buy-in/out over the three-hour window: net outflow of $178 million, and not a single red candle—everything was moving out into FX.
That bit of “returned” red from the 15-minute big orders: if it’s made to be right, it’s only 180,000. It doesn’t even come close to filling the hole from those three hours, let alone the difference.
If price can hold, it’s because the short side on the futures side covered: the aggressive buy pressure surged up by almost 70% over seven hours, but open interest still shrank by 9.79% in a day. The leveraged long side got cleared again.
Funding fees are down to 0.007—so low that nobody is willing to pay for direction. Even the whales’ account shows the share of long positions has been reduced by another 4.9%. This round isn’t new money coming in; it’s just a bounce-back after the drop was too fast. After the cover is done, price will go wherever it was going next.
I’m short. If the rebound can’t stand back above 0.215, then it’s a wasted poke. To go long, first wait for that spot ledger to flip to red—over three hours, net outflow needs to turn to net inflow; big orders keep coming in; and open interest needs to turn and start stacking upward. Until then, every time it pops up, it’s just feeding the shorts. #ada $ADA
That bit of “returned” red from the 15-minute big orders: if it’s made to be right, it’s only 180,000. It doesn’t even come close to filling the hole from those three hours, let alone the difference.
If price can hold, it’s because the short side on the futures side covered: the aggressive buy pressure surged up by almost 70% over seven hours, but open interest still shrank by 9.79% in a day. The leveraged long side got cleared again.
Funding fees are down to 0.007—so low that nobody is willing to pay for direction. Even the whales’ account shows the share of long positions has been reduced by another 4.9%. This round isn’t new money coming in; it’s just a bounce-back after the drop was too fast. After the cover is done, price will go wherever it was going next.
I’m short. If the rebound can’t stand back above 0.215, then it’s a wasted poke. To go long, first wait for that spot ledger to flip to red—over three hours, net outflow needs to turn to net inflow; big orders keep coming in; and open interest needs to turn and start stacking upward. Until then, every time it pops up, it’s just feeding the shorts. #ada $ADA
