A question has been coming up repeatedly in the community lately: Is the market about to begin its major rally, or is it topping out and waiting to shake people down?
I went through the perpetual futures gainers list today and noticed something. Money is clearly splitting into different camps. HYPE, a major token with over $400 million in daily trading volume, is up just -0.3% over 24 hours, with its price stuck around $82. Meanwhile, lower-volume tokens like GWEIUSDT and GLWUSDT are up 3% to 7% on the day.
What does this tell us? Big money hasn't picked a clear direction yet; it's waiting for a signal. Smaller traders are already itching to make short-term bets.
I've seen this kind of market behavior many times. It usually ends one of two ways: either major tokens suddenly take off, siphoning away all the profits made in smaller coins and kicking off a major rally; or smaller coins take turns rallying and burn through market sentiment, then all pull back together, with Bitcoin following suit.
HYPE is around $82 now, with over $400 million in daily volume, but its price isn't moving. Would you say it's building strength or waiting for a chance to sell off? I lean toward the former, but the volume over the next few days will need to confirm that view.
The worst-case scenario is what we're seeing now: the things going up aren't in your portfolio, and the things you hold aren't going up. Then, just as you're thinking of rotating your positions, both sides start pulling back.
Which side are you on? Do you think a major rally is coming, or will the market keep topping out and wearing everyone down? Vote in the comments and let's see whether everyone is leaning the same way.
Follow me for livestreams and SMC lessons every night at 21:00.
🌿 Zhao Buxuan | Not financial advice
I went through the perpetual futures gainers list today and noticed something. Money is clearly splitting into different camps. HYPE, a major token with over $400 million in daily trading volume, is up just -0.3% over 24 hours, with its price stuck around $82. Meanwhile, lower-volume tokens like GWEIUSDT and GLWUSDT are up 3% to 7% on the day.
What does this tell us? Big money hasn't picked a clear direction yet; it's waiting for a signal. Smaller traders are already itching to make short-term bets.
I've seen this kind of market behavior many times. It usually ends one of two ways: either major tokens suddenly take off, siphoning away all the profits made in smaller coins and kicking off a major rally; or smaller coins take turns rallying and burn through market sentiment, then all pull back together, with Bitcoin following suit.
HYPE is around $82 now, with over $400 million in daily volume, but its price isn't moving. Would you say it's building strength or waiting for a chance to sell off? I lean toward the former, but the volume over the next few days will need to confirm that view.
The worst-case scenario is what we're seeing now: the things going up aren't in your portfolio, and the things you hold aren't going up. Then, just as you're thinking of rotating your positions, both sides start pulling back.
Which side are you on? Do you think a major rally is coming, or will the market keep topping out and wearing everyone down? Vote in the comments and let's see whether everyone is leaning the same way.
Follow me for livestreams and SMC lessons every night at 21:00.
🌿 Zhao Buxuan | Not financial advice