$EPIC 24 hours, down 28.5%; the current price is 0.313, and it hit a low of 0.2598. Many people see this sell-off as whales dumping their holdings, but the whales’ long/short position ratio is still at 4.2—after peaking at 11.3 yesterday during the day, it was cut by more than half, yet their positions never flipped net short.
Even more striking is the open interest in futures. It was still at 8.62 million yesterday afternoon. As the price was pushed down, open interest kept rising, reaching 11.65 million by 5 a.m. today—an increase of about 35%. Long accounts make up just 51.9% of retail traders, nearly an even split; the funding rate has hovered around +0.005%, so shorts haven’t been forced to pay either. With the price falling, open interest rising, and whales still net long, these three things together look more like weak longs being liquidated while new shorts rush in, rather than market makers dumping their holdings and running.
Looking back at yesterday afternoon’s 1-hour candle, the price surged from 0.419 to 0.459, then plunged to 0.370 and closed at 0.419, with about $1.8 million in volume for that hour. That already opened the way for a further breakdown. Afterward, the price continued lower to 0.2598 this morning, and short positions also piled up during that stretch. The numbers tell us more clearly than the narrative who was selling and who was buying.
On the 1-hour chart, RSI14 has recovered to 39.4, while the price is hugging the lower Keltner Channel at 0.295 and remains below EMA26 (0.340). The KDJ J-value has bounced to 81.9, showing the strength of a rebound from oversold levels—not that the trend has turned bullish. This morning, the price bounced from 0.26 to around 0.34, then pulled back to around 0.31. Structurally, this is still a recovery after a decline, with the first resistance overhead near the moving average.
The mechanics are simple: liquidations push the price down, shorts add to their positions and drive up open interest, while whales have only trimmed their longs, not flipped their bias. I see this sell-off as forced position reductions combined with new short entries. Whales remain net long, which is why the price could bounce near 0.26. I don’t hold EPIC, and I’m not chasing this rebound. If 0.295 gives way while open interest keeps rising, the next level to watch is this morning’s low of 0.2598. Only if the 1-hour candle closes back above 0.340 and the whales’ long/short ratio stays above 2 would that indicate this round of short buildup has failed to keep the price down. Personal opinion
#EPIC #合约数据 #Crypto
Even more striking is the open interest in futures. It was still at 8.62 million yesterday afternoon. As the price was pushed down, open interest kept rising, reaching 11.65 million by 5 a.m. today—an increase of about 35%. Long accounts make up just 51.9% of retail traders, nearly an even split; the funding rate has hovered around +0.005%, so shorts haven’t been forced to pay either. With the price falling, open interest rising, and whales still net long, these three things together look more like weak longs being liquidated while new shorts rush in, rather than market makers dumping their holdings and running.
Looking back at yesterday afternoon’s 1-hour candle, the price surged from 0.419 to 0.459, then plunged to 0.370 and closed at 0.419, with about $1.8 million in volume for that hour. That already opened the way for a further breakdown. Afterward, the price continued lower to 0.2598 this morning, and short positions also piled up during that stretch. The numbers tell us more clearly than the narrative who was selling and who was buying.
On the 1-hour chart, RSI14 has recovered to 39.4, while the price is hugging the lower Keltner Channel at 0.295 and remains below EMA26 (0.340). The KDJ J-value has bounced to 81.9, showing the strength of a rebound from oversold levels—not that the trend has turned bullish. This morning, the price bounced from 0.26 to around 0.34, then pulled back to around 0.31. Structurally, this is still a recovery after a decline, with the first resistance overhead near the moving average.
The mechanics are simple: liquidations push the price down, shorts add to their positions and drive up open interest, while whales have only trimmed their longs, not flipped their bias. I see this sell-off as forced position reductions combined with new short entries. Whales remain net long, which is why the price could bounce near 0.26. I don’t hold EPIC, and I’m not chasing this rebound. If 0.295 gives way while open interest keeps rising, the next level to watch is this morning’s low of 0.2598. Only if the 1-hour candle closes back above 0.340 and the whales’ long/short ratio stays above 2 would that indicate this round of short buildup has failed to keep the price down. Personal opinion
#EPIC #合约数据 #Crypto