$TRX three-day low, the fee rate still hovering in positive territory, and after the position was cut by 11.5%, it quietly topped up a little again within seven hours. The longs in the market didn’t leave—they’re still paying the price to hold the position.
The route that manages the money is撤(ing). Spot has pulled out 450 million in three hours; large orders show five consecutive rounds of net outflows. Spot leverage borrowing ratio collapsed 72% in 12 hours, and the long/short ratio was cut by a further 30%. The money that was exploding in volume to add leverage yesterday is today fleeing in panic.
Whale positions have been squeezed down to below 49%; another 6.5% was cut off again over seven hours. Big players ran first, while the retail crowd still keeps the channel open stubbornly. Whose money is the one catching the falling knife this time? Anyway, there’s always a piece for me.
Short. Once it breaks below the three-day low, there’s no reason to hard-buy underneath. Before the leverage is fully cleared, every rebound is an opportunity to let the longs unload onto the people holding the position. Wait until the spot money keeps flipping to green consecutively and the price steps back above 0.34—only then is the short thesis invalid. Until that point, I’ll just leave this one short and watch the show. #trx $TRX
The route that manages the money is撤(ing). Spot has pulled out 450 million in three hours; large orders show five consecutive rounds of net outflows. Spot leverage borrowing ratio collapsed 72% in 12 hours, and the long/short ratio was cut by a further 30%. The money that was exploding in volume to add leverage yesterday is today fleeing in panic.
Whale positions have been squeezed down to below 49%; another 6.5% was cut off again over seven hours. Big players ran first, while the retail crowd still keeps the channel open stubbornly. Whose money is the one catching the falling knife this time? Anyway, there’s always a piece for me.
Short. Once it breaks below the three-day low, there’s no reason to hard-buy underneath. Before the leverage is fully cleared, every rebound is an opportunity to let the longs unload onto the people holding the position. Wait until the spot money keeps flipping to green consecutively and the price steps back above 0.34—only then is the short thesis invalid. Until that point, I’ll just leave this one short and watch the show. #trx $TRX
