PROM dropped from 7.88 to 6.13 in one night. In just 24 hours, it fell 10.7%. Meanwhile, open interest was cut in step—down 9.3%—and the system even directly labeled it as “bear_capitulation,” meaning the contract longs are exiting with losses. But right under this big bearish candle, spot is doing the exact opposite.
Over the past three hours, net inflow reached 1.63 million, and all 12 funding candles were red—12 out of 12. The spot order flow shows active buy/sell absorption pushed up to 2.97, and even after 15 minutes, the large orders’ net buy is still positive. While the futures are surrendering, spot is still picking up the goods—on opposite sides, fighting each other.
Connect these seven days together: using the contract perspective, over 7 days it rose 120%. The K-line went straight from 2.68 to 7.89—this kind of slope is entirely driven by leverage. Now OI is being cut by 9.3% in a day, which is deleveraging—wiping out late, chase-long positions. Real spot money hasn’t run; it’s still adding. On-chain, leverage lending has increased net over 12 hours, and the spot long/short ratio has topped out at 110x. This is a shakeout, not distribution.
At the current price of 6.35, it’s a long setup. Put the stop-loss below 6.12. The initial target is 7.0, then look toward the prior high at 7.88. A single signal is enough for a viewpoint reversal: if the spot’s net inflow over the next three hours turns from positive to negative, or if the price directly breaks down through 6.12, that would mean the “picking up goods” is a fake move—I’ll immediately flip and look for a short.
#prom $PROM
Over the past three hours, net inflow reached 1.63 million, and all 12 funding candles were red—12 out of 12. The spot order flow shows active buy/sell absorption pushed up to 2.97, and even after 15 minutes, the large orders’ net buy is still positive. While the futures are surrendering, spot is still picking up the goods—on opposite sides, fighting each other.
Connect these seven days together: using the contract perspective, over 7 days it rose 120%. The K-line went straight from 2.68 to 7.89—this kind of slope is entirely driven by leverage. Now OI is being cut by 9.3% in a day, which is deleveraging—wiping out late, chase-long positions. Real spot money hasn’t run; it’s still adding. On-chain, leverage lending has increased net over 12 hours, and the spot long/short ratio has topped out at 110x. This is a shakeout, not distribution.
At the current price of 6.35, it’s a long setup. Put the stop-loss below 6.12. The initial target is 7.0, then look toward the prior high at 7.88. A single signal is enough for a viewpoint reversal: if the spot’s net inflow over the next three hours turns from positive to negative, or if the price directly breaks down through 6.12, that would mean the “picking up goods” is a fake move—I’ll immediately flip and look for a short.
#prom $PROM
