60% of people are shorting, but MAGMA somehow still surged 47%.
This phenomenon today is quite interesting—shorts hold an overwhelming majority (60.27% vs 39.73% longs). In theory, this kind of long/short structure should keep downward pressure on the price. Yet MAGMA was pushed all the way from the intraday low of 0.346 up to 0.580, a gain of nearly 47%.
What’s happening behind the scenes?
Accumulated short positions → the price gets forced upward → a large number of short positions are forced to close → the closing action in turn pushes the price even higher. This is a classic short squeeze. It’s not a market driven by active buying pressure, but rather a passive, “stepping-on-a-landmine” style rally.
Trading volume also confirms it: over the past 8 hours, total volume exceeded $226 million. The 5th and 6th candlesticks show a clear surge in volume (28.5M + 38.5M), matching the period when the price was most violently volatile.
The funding rate is currently 0.036%—bullish but not extreme—suggesting the market hasn’t reached a fully frenzy state yet.
What we need to watch now is: after the short squeeze ends, how much real buying demand remains to support the price? If trading volume starts to shrink rapidly while the price stays elevated, be careful—there could be a reversal.
$MAGMA #空头挤压 #47%暴涨
Click the card below to quickly view the行情👇
This phenomenon today is quite interesting—shorts hold an overwhelming majority (60.27% vs 39.73% longs). In theory, this kind of long/short structure should keep downward pressure on the price. Yet MAGMA was pushed all the way from the intraday low of 0.346 up to 0.580, a gain of nearly 47%.
What’s happening behind the scenes?
Accumulated short positions → the price gets forced upward → a large number of short positions are forced to close → the closing action in turn pushes the price even higher. This is a classic short squeeze. It’s not a market driven by active buying pressure, but rather a passive, “stepping-on-a-landmine” style rally.
Trading volume also confirms it: over the past 8 hours, total volume exceeded $226 million. The 5th and 6th candlesticks show a clear surge in volume (28.5M + 38.5M), matching the period when the price was most violently volatile.
The funding rate is currently 0.036%—bullish but not extreme—suggesting the market hasn’t reached a fully frenzy state yet.
What we need to watch now is: after the short squeeze ends, how much real buying demand remains to support the price? If trading volume starts to shrink rapidly while the price stays elevated, be careful—there could be a reversal.
$MAGMA #空头挤压 #47%暴涨
Click the card below to quickly view the行情👇
