My stop-loss got hit on a short position in $STRK —I got blown out after it surged 49%. These market makers really have the nerve to pump it.
First, $LUMIA : up 84.6% in 24 hours, reaching 0.1534, with a trading volume of 32 million. Retail traders couldn’t have pulled off a move like that; there must be news or a market maker controlling the price. The volume isn’t especially high, but the signs of a pump are obvious. The problem is, once you get stuck holding a coin like this, liquidity is so terrible you can’t get out even if you want to.
$STRK is even crazier, with a trading volume of 107 million—the highest on the entire list. It’s up 49% to 0.10627. But keep in mind, BTC is up just 0.46%. A move this independent of the market isn’t normal market activity; someone’s up to something. That’s why my stop-loss got triggered: shorts were too crowded, and the market maker pumped it in one go and blew them out.
As for the ones that are down, NFP fell 65% and PYR fell 57%. Drops like these are usually the result of a project team abandoning the project or liquidity drying up. Don’t think about buying the dip. BTC’s funding rate is -0.006, which shows bearish sentiment is still building, while the broader market has no clear direction.
My take: Can you chase coins like $LUMIA and $STRK after a huge pump? No. Market makers pump prices to find buyers to dump on. The moment you get in, you become a perfect target.
As for the coins that have plunged, something like NFP, which is down 65%, is basically a trap, not an opportunity.
Have you ever been caught holding the bag?
#Write2Earn #Crypto
⚠️ These are my personal views and do not constitute investment advice.
First, $LUMIA : up 84.6% in 24 hours, reaching 0.1534, with a trading volume of 32 million. Retail traders couldn’t have pulled off a move like that; there must be news or a market maker controlling the price. The volume isn’t especially high, but the signs of a pump are obvious. The problem is, once you get stuck holding a coin like this, liquidity is so terrible you can’t get out even if you want to.
$STRK is even crazier, with a trading volume of 107 million—the highest on the entire list. It’s up 49% to 0.10627. But keep in mind, BTC is up just 0.46%. A move this independent of the market isn’t normal market activity; someone’s up to something. That’s why my stop-loss got triggered: shorts were too crowded, and the market maker pumped it in one go and blew them out.
As for the ones that are down, NFP fell 65% and PYR fell 57%. Drops like these are usually the result of a project team abandoning the project or liquidity drying up. Don’t think about buying the dip. BTC’s funding rate is -0.006, which shows bearish sentiment is still building, while the broader market has no clear direction.
My take: Can you chase coins like $LUMIA and $STRK after a huge pump? No. Market makers pump prices to find buyers to dump on. The moment you get in, you become a perfect target.
As for the coins that have plunged, something like NFP, which is down 65%, is basically a trap, not an opportunity.
Have you ever been caught holding the bag?
#Write2Earn #Crypto
⚠️ These are my personal views and do not constitute investment advice.