$OGN These past two days have made it the focus of the whole market: doubling about once every 24 hours, pushing above $0.04. Spot trading volume has expanded to the $250 million level. Even more interesting is that the perpetual funding rate is negative—shorts end up paying longs instead. Big capital doesn’t seem to believe in this upswing; they pull it up while hedging. There hasn’t been any real, solid new catalyst on the project side. It’s closer to a technical squeeze driven by sentiment rotation and leveraged funds. The short-term RSI is now deeply overbought. Chasing this kind of rally gives a very poor risk-reward ratio. It’s better to watch the pullback after the rally stalls on increased volume—much more composed than running in early.
At the same time, the broader market is getting beaten: Brent crude is above $102, the 10-year U.S. Treasury yield is touching 5.36%, the highest since 2002. In the September minutes, most officials even still expected that there could be another rate hike within the year. BTC has lost the 83,000 mark; in the past 24 hours, the total market-wide liquidations exceed $500 million, almost all of them closing long positions buried as losses.
On the biggest decliners list, $ZEC has fallen back 16% from its peak, but daily trading volume of $270 million shows massive disagreement. Profits and fresh buy interest are trading back and forth intensely—direction will have to wait for volume to speak for itself.
Whether it’s a violently pumped coin or a heavily sold one with big volume, at heart it’s all a battle of positioning rather than a trend market. In this phase, watching from the sidelines with light exposure is often more comfortable than committing with heavy weight.
At the same time, the broader market is getting beaten: Brent crude is above $102, the 10-year U.S. Treasury yield is touching 5.36%, the highest since 2002. In the September minutes, most officials even still expected that there could be another rate hike within the year. BTC has lost the 83,000 mark; in the past 24 hours, the total market-wide liquidations exceed $500 million, almost all of them closing long positions buried as losses.
On the biggest decliners list, $ZEC has fallen back 16% from its peak, but daily trading volume of $270 million shows massive disagreement. Profits and fresh buy interest are trading back and forth intensely—direction will have to wait for volume to speak for itself.
Whether it’s a violently pumped coin or a heavily sold one with big volume, at heart it’s all a battle of positioning rather than a trend market. In this phase, watching from the sidelines with light exposure is often more comfortable than committing with heavy weight.