TREE's Bid Is Real Volume, Thin Leverage
1. The volume signature is a burst, not a trend. Seven-day average volume is up roughly 677% while the 30-day figure is still negative, and the entire $15.6M session printed on one venue. That is a low-base ignition, which means the bid still needs consecutive sessions to prove it is accumulation rather than a single-account event.
2. Leverage is thin and leaning short. Funding sits at -1.3626% with open interest near $3.1M — shorts are paying to hold a very small perp book against a much larger spot tape. Squeeze fuel exists, but a book that shallow cuts both ways, and no market-cap or supply data is available here to gauge float or dilution pressure. Macro: Treasury yields eased and the dollar weakened are tailwinds.
$tree
1. The volume signature is a burst, not a trend. Seven-day average volume is up roughly 677% while the 30-day figure is still negative, and the entire $15.6M session printed on one venue. That is a low-base ignition, which means the bid still needs consecutive sessions to prove it is accumulation rather than a single-account event.
2. Leverage is thin and leaning short. Funding sits at -1.3626% with open interest near $3.1M — shorts are paying to hold a very small perp book against a much larger spot tape. Squeeze fuel exists, but a book that shallow cuts both ways, and no market-cap or supply data is available here to gauge float or dilution pressure. Macro: Treasury yields eased and the dollar weakened are tailwinds.
$tree