$牛来 , the bulls are coming at 0.0777. Open interest is 29.21 million, 24-hour futures volume is 22.96 million, and liquidations are only a little over 2,000.
There’s just one contradiction. The market cap is 77.8 million, futures volume is still below the market cap, and spot volume is only 4.28 million. The price has ground down from 0.0805 to 0.0767, giving back a little over half from its September high of 0.162. It’s already down 40% over 30 days. With volume this thin and liquidations barely visible, this is a slow bleed, not a shakeout. The project team is still shouting its pun, while retail traders see 0.077 as a level that hasn’t been fully dumped yet and think they can buy the dip. A tight range doesn’t mean holders are reluctant to sell; it means neither bulls nor bears are willing to be the first to bring in volume. Open interest is still hovering around 29 million: longs are sitting through the funding fees, while shorts are collecting red candles.
I’m staying short.
There’s just one contradiction. The market cap is 77.8 million, futures volume is still below the market cap, and spot volume is only 4.28 million. The price has ground down from 0.0805 to 0.0767, giving back a little over half from its September high of 0.162. It’s already down 40% over 30 days. With volume this thin and liquidations barely visible, this is a slow bleed, not a shakeout. The project team is still shouting its pun, while retail traders see 0.077 as a level that hasn’t been fully dumped yet and think they can buy the dip. A tight range doesn’t mean holders are reluctant to sell; it means neither bulls nor bears are willing to be the first to bring in volume. Open interest is still hovering around 29 million: longs are sitting through the funding fees, while shorts are collecting red candles.
I’m staying short.