$ICP 24h rose 10.31%, touched 3.553. But the one-hour active buy/sell ratio is only 0.707—price is at a high level, and the sell orders are already getting filled (being eaten)!
In this past hour, the price fell from 3.494 to 3.393, down 2.89%. The open position value dropped 3.5% to 35.44 million. The longs are exiting rather than opening new shorts; within 15 minutes, the buy/sell ratio returned to 1.197, and the short-term buy side just took another round, but the two sides still don’t line up.
Funding rate +0.01%, with longs paying a small amount.
Only once it reclaims the 24h high of 3.553 can the situation be considered “repaired.” If it falls back to below the 24h low of 3.068, this whole setup of “catching the bid” doesn’t hold.
#ICP
In this past hour, the price fell from 3.494 to 3.393, down 2.89%. The open position value dropped 3.5% to 35.44 million. The longs are exiting rather than opening new shorts; within 15 minutes, the buy/sell ratio returned to 1.197, and the short-term buy side just took another round, but the two sides still don’t line up.
Funding rate +0.01%, with longs paying a small amount.
Only once it reclaims the 24h high of 3.553 can the situation be considered “repaired.” If it falls back to below the 24h low of 3.068, this whole setup of “catching the bid” doesn’t hold.
#ICP
