$STRK is still at the top of the gainers list, but what’s more worth discussing now is the quality of the recovery after the spike. It surged to 0.12390 in the morning, then gave back more than 11% over the following hour. It edged higher toward the afternoon close, while trading activity cooled steadily. I’m not chasing it here: a recovery is underway, but there’s not yet enough evidence of renewed acceleration.
At 15:22 on October 11, Binance STRKUSDT perpetuals were up 51.684% over 24 hours, quoted at 0.10853, with approximately 1.1933 billion USDT in volume. The analysis published in the early hours discussed the high-volume breakout above 0.09843 between 02:00 and 03:00. This update adds three phases: a spike, a sharp pullback, and an afternoon recovery on declining volume. These have changed the short-term picture, so the momentum from the early-hours move should not be assumed to continue.
Between 10:00 and 11:00, the perpetual contract reached a high of 0.12390 and closed at 0.11871, with approximately 117.9 million USDT in volume. Between 11:00 and 12:00, it fell from 0.11868 to close at 0.10547, down about 11.13%. It reached a low of 0.10483, with approximately 95.83 million USDT in volume. Volume was somewhat lower than in the previous hour, but the price gave back a substantial amount; the activity at higher levels did not preserve all of the gains. This candlestick alone cannot identify the sellers or establish the scale of liquidations.
Between 12:00 and 13:00, the price first tested 0.10153, then closed at 0.10895, up 3.33%, with approximately 97.05 million USDT in volume. The recovery had some trading support, but the low was still below that of the previous hour. This is a rebound from a low, not evidence that the market was steadily absorbing selling throughout.
The following two hours make the distinction clearer. Between 13:00 and 14:00, the contract closed at 0.10925, with volume of approximately 51.51 million USDT. Between 14:00 and 15:00, it closed at 0.11029, up 0.95%, on approximately 38.52 million USDT in volume—a 25.23% drop from the previous hour. The price edged higher in consecutive hours, while volume fell from 97.05 million to 51.51 million, then to 38.52 million. Easing selling pressure is one possible explanation, but declining buyer willingness to chase the price cannot be ruled out. We need to see whether the price can make meaningful progress when volume picks up again.
The latest completed hourly candle had a low of 0.10718, above the previous hour’s 0.10468. This supports the view that the recovery is forming higher lows. On the other hand, its high of 0.11178 was below the previous hour’s 0.11241. With higher lows but no expansion in highs, the current move looks more like a consolidating recovery than the start of a new breakout leg.
From 14:00 to 15:00, open interest rose from approximately 447.2 million to 453.2 million contracts, an increase of about 1.35%. The price rose and positions expanded slightly, but the move was still limited. OI figures do not reveal the direction of the new contracts, and they are not equivalent to net inflows. The funding rate settled at 12:00 was -0.001779%, closer to zero than the -0.002724% reading at 08:00. The rate is small and cannot be used to prove that shorts are crowded or that a short squeeze is inevitable.
The completed four-hour period from 08:00 to 12:00 closed at 0.10547, up about 2.24% from 0.10316, despite reaching a high of 0.12390 along the way. The gap between that close and the intraperiod spike shows how a positive four-hour return can still mask a significant pullback. The 12:00–16:00 period is not yet complete, so it is too early to claim that a reversal has been confirmed.
Supply also warrants monitoring. Starknet’s official token rules state that up to 127 million tokens are scheduled to unlock on the 15th of each month from April 2025 through March 2027, with October 15 approaching. This is an existing schedule, not a new development today. An unlock does not mean the tokens will be sold immediately, and it cannot by itself explain each move today.
I’ll first watch to see whether a completed hourly candle can reclaim the area around 0.11241 and whether the price makes meaningful progress as volume recovers. Then I’ll watch 0.11990 and 0.12390. If the price loses 0.10718 again, the afternoon recovery marked by higher lows will need to be reassessed; below that are 0.10468 and 0.10153. Being at the top of the list reflects strength over the past 24 hours; follow-through still needs to be judged over the next window.
Sources: Binance perpetual candlesticks, historical OI and funding rates, and Starknet’s official STRK rules.
At 15:22 on October 11, Binance STRKUSDT perpetuals were up 51.684% over 24 hours, quoted at 0.10853, with approximately 1.1933 billion USDT in volume. The analysis published in the early hours discussed the high-volume breakout above 0.09843 between 02:00 and 03:00. This update adds three phases: a spike, a sharp pullback, and an afternoon recovery on declining volume. These have changed the short-term picture, so the momentum from the early-hours move should not be assumed to continue.
Between 10:00 and 11:00, the perpetual contract reached a high of 0.12390 and closed at 0.11871, with approximately 117.9 million USDT in volume. Between 11:00 and 12:00, it fell from 0.11868 to close at 0.10547, down about 11.13%. It reached a low of 0.10483, with approximately 95.83 million USDT in volume. Volume was somewhat lower than in the previous hour, but the price gave back a substantial amount; the activity at higher levels did not preserve all of the gains. This candlestick alone cannot identify the sellers or establish the scale of liquidations.
Between 12:00 and 13:00, the price first tested 0.10153, then closed at 0.10895, up 3.33%, with approximately 97.05 million USDT in volume. The recovery had some trading support, but the low was still below that of the previous hour. This is a rebound from a low, not evidence that the market was steadily absorbing selling throughout.
The following two hours make the distinction clearer. Between 13:00 and 14:00, the contract closed at 0.10925, with volume of approximately 51.51 million USDT. Between 14:00 and 15:00, it closed at 0.11029, up 0.95%, on approximately 38.52 million USDT in volume—a 25.23% drop from the previous hour. The price edged higher in consecutive hours, while volume fell from 97.05 million to 51.51 million, then to 38.52 million. Easing selling pressure is one possible explanation, but declining buyer willingness to chase the price cannot be ruled out. We need to see whether the price can make meaningful progress when volume picks up again.
The latest completed hourly candle had a low of 0.10718, above the previous hour’s 0.10468. This supports the view that the recovery is forming higher lows. On the other hand, its high of 0.11178 was below the previous hour’s 0.11241. With higher lows but no expansion in highs, the current move looks more like a consolidating recovery than the start of a new breakout leg.
From 14:00 to 15:00, open interest rose from approximately 447.2 million to 453.2 million contracts, an increase of about 1.35%. The price rose and positions expanded slightly, but the move was still limited. OI figures do not reveal the direction of the new contracts, and they are not equivalent to net inflows. The funding rate settled at 12:00 was -0.001779%, closer to zero than the -0.002724% reading at 08:00. The rate is small and cannot be used to prove that shorts are crowded or that a short squeeze is inevitable.
The completed four-hour period from 08:00 to 12:00 closed at 0.10547, up about 2.24% from 0.10316, despite reaching a high of 0.12390 along the way. The gap between that close and the intraperiod spike shows how a positive four-hour return can still mask a significant pullback. The 12:00–16:00 period is not yet complete, so it is too early to claim that a reversal has been confirmed.
Supply also warrants monitoring. Starknet’s official token rules state that up to 127 million tokens are scheduled to unlock on the 15th of each month from April 2025 through March 2027, with October 15 approaching. This is an existing schedule, not a new development today. An unlock does not mean the tokens will be sold immediately, and it cannot by itself explain each move today.
I’ll first watch to see whether a completed hourly candle can reclaim the area around 0.11241 and whether the price makes meaningful progress as volume recovers. Then I’ll watch 0.11990 and 0.12390. If the price loses 0.10718 again, the afternoon recovery marked by higher lows will need to be reassessed; below that are 0.10468 and 0.10153. Being at the top of the list reflects strength over the past 24 hours; follow-through still needs to be judged over the next window.
Sources: Binance perpetual candlesticks, historical OI and funding rates, and Starknet’s official STRK rules.