Everyone, $HOT is up 20.839% over the past 24 hours today. I had to check that number twice before I believed it.
That number really stands out.
First, let's look at where it sits. The 20-day range is 0.0003036 to 0.0004611,
and the current price is at the 97.9th percentile, just 0.72% below the top of the range. The seven-day gain is 32.312%.
Trading volume is the real evidence of activity. The median daily trading volume over the previous 20 trading days was just 949566.88 USDT,
but today it hit 104716283.63—110 times higher.
It's like suddenly setting out 110 extra plates on the table.
Whoever is closest to the pot gets served first.
The funding rate is -2.0000%, so short sellers are paying to stay in their positions.
But open interest is only 5.361 million USDT. Positions of this size aren't enough to support a meaningful migration of capital.
My take is that this rally is being driven by funding rates and trading volume, not by open interest, so I would discount the chances of it continuing from this level.
The 24-hour range is 26.537%, and the average daily volatility is 7.559%. From the 0.0003036 low on 10-30 to today's high,
the move is 51.877%.
When support is thin, even the prettiest rally won't hold.
My stance at this level is to pay less attention to it. Chasing it now could mean being the last one holding the bag.
I usually use $BTC and $ETH as benchmarks. If those two aren't moving, most single-coin rallies don't go very far.
What do you think—was this move driven by short covering, or is there real new money coming in? Let's discuss in the comments.
#HOT #比特币 #Cryptocurrency
This is a record of my personal trading system and observations of market data, and does not constitute investment advice.
That number really stands out.
First, let's look at where it sits. The 20-day range is 0.0003036 to 0.0004611,
and the current price is at the 97.9th percentile, just 0.72% below the top of the range. The seven-day gain is 32.312%.
Trading volume is the real evidence of activity. The median daily trading volume over the previous 20 trading days was just 949566.88 USDT,
but today it hit 104716283.63—110 times higher.
It's like suddenly setting out 110 extra plates on the table.
Whoever is closest to the pot gets served first.
The funding rate is -2.0000%, so short sellers are paying to stay in their positions.
But open interest is only 5.361 million USDT. Positions of this size aren't enough to support a meaningful migration of capital.
My take is that this rally is being driven by funding rates and trading volume, not by open interest, so I would discount the chances of it continuing from this level.
The 24-hour range is 26.537%, and the average daily volatility is 7.559%. From the 0.0003036 low on 10-30 to today's high,
the move is 51.877%.
When support is thin, even the prettiest rally won't hold.
My stance at this level is to pay less attention to it. Chasing it now could mean being the last one holding the bag.
I usually use $BTC and $ETH as benchmarks. If those two aren't moving, most single-coin rallies don't go very far.
What do you think—was this move driven by short covering, or is there real new money coming in? Let's discuss in the comments.
#HOT #比特币 #Cryptocurrency
This is a record of my personal trading system and observations of market data, and does not constitute investment advice.
