The leveraged pump in W has been followed by the expected dump.
I said this morning that W’s latest rally was nothing like the steady rise of a typical altcoin.
It shot straight up from 0.0147 in one big green candle, with no consolidation or shakeout along the way.
The rally was built entirely on leveraged funds, with no substantial spot demand to support it, making the price increase inherently fragile. When a rally is driven by leverage, prices can fall quickly once that money is pulled out and there are no spot buyers to provide a floor.
The price has now dropped directly from its highs, as leveraged traders rushed to close their positions, triggering a cascade of liquidations.
Altcoins like this are only suitable for short-term trading, and chasing the price carries significant risk. Latest news: 点击进入聊天室
I said this morning that W’s latest rally was nothing like the steady rise of a typical altcoin.
It shot straight up from 0.0147 in one big green candle, with no consolidation or shakeout along the way.
The rally was built entirely on leveraged funds, with no substantial spot demand to support it, making the price increase inherently fragile. When a rally is driven by leverage, prices can fall quickly once that money is pulled out and there are no spot buyers to provide a floor.
The price has now dropped directly from its highs, as leveraged traders rushed to close their positions, triggering a cascade of liquidations.
Altcoins like this are only suitable for short-term trading, and chasing the price carries significant risk. Latest news: 点击进入聊天室