CRCL fell from 96.56 to 89.2 in 24 hours (-6.6%). The 20-day and 50-day lines are pinned right above the price. What’s interesting isn’t the drop—it’s who’s catching the knife while it’s falling.
Open interest is up 3.55% against the trend over the past 7 hours: the aggressive buy volume is nearly 200%, and buy orders account for 51.6%—the money catching the dip against the trend is coming in hard. But at the same time, the whales cut their long/short positions by 11.8%, while the number of accounts is actually up 13.2%: big accounts are reducing as it drops, retail accounts are stepping in to buy.
The spot side looks cleaner. All five sampling candles show large orders at zero—institutions didn’t put in a single real cent. In the 20-level order book, the sell wall thickness is 1.5 times the buy-side thickness. This kind of knife-catching doesn’t have big money backing it.
At 89.2, I directly look bearish. If it rebounds to around 90 (near MA20), I’ll short again. First target is 88.18 (24-hour low). If it breaks below that, we’ll look for a new daily low. Unless the spot side sees continuous net inflows from large orders and OI rises in sync with price—otherwise, I’ll just hold the short positions.
#crcl $CRCL
Open interest is up 3.55% against the trend over the past 7 hours: the aggressive buy volume is nearly 200%, and buy orders account for 51.6%—the money catching the dip against the trend is coming in hard. But at the same time, the whales cut their long/short positions by 11.8%, while the number of accounts is actually up 13.2%: big accounts are reducing as it drops, retail accounts are stepping in to buy.
The spot side looks cleaner. All five sampling candles show large orders at zero—institutions didn’t put in a single real cent. In the 20-level order book, the sell wall thickness is 1.5 times the buy-side thickness. This kind of knife-catching doesn’t have big money backing it.
At 89.2, I directly look bearish. If it rebounds to around 90 (near MA20), I’ll short again. First target is 88.18 (24-hour low). If it breaks below that, we’ll look for a new daily low. Unless the spot side sees continuous net inflows from large orders and OI rises in sync with price—otherwise, I’ll just hold the short positions.
#crcl $CRCL
