The 80,000 level has been reclaimed by $BTC .
It’s up 5.105% over 24 hours, with a high of just 81,188, but the upper edge of the 20-day range is still overhead at 84,875.2.
At first glance, I thought I’d misread it. I checked twice before believing that gain.
I’m watching open interest on the four-hour basis: it fell from 99,308.71 contracts to 96,167.02,
down 3.16%. Prices are moving up while positions are being unwound.
It’s like goods leaving a warehouse: truckloads are hauled away, while the shelves are still standing there, looking full but actually empty.
That’s the difference.
This leg up is short covering, not new money coming in.
There aren’t more people carrying the sedan chair; the people already sitting in it have jumped off on their own.
The positioning also tells the story.
The 20-day range is 75,690.2 to 84,875.2. The current price is only at the 54.42nd percentile—above the midpoint, but still some distance from the top.
$ETH has already reached the 72.48th percentile, while $SOL is at just 33.13%. A gap of over 30 points between them—that’s what unfinished rotation looks like.
Funding is just 0.005066%, hovering around zero. Long-account share is 58.01%; leverage is nowhere near overheated.
Liquidity is deep, with $18.93 billion in daily trading volume, but tokens are changing hands rather than being accumulated, and buying support is weaker than last week.
It’s still the same few plates of food; whoever’s closest to the pot gets served first. Nothing new has been added to the pot, so once this round is served, it’s over.
Do you think this is a genuine breakout or another fake move? Let’s discuss in the comments.
#比特币 #以太坊 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice
It’s up 5.105% over 24 hours, with a high of just 81,188, but the upper edge of the 20-day range is still overhead at 84,875.2.
At first glance, I thought I’d misread it. I checked twice before believing that gain.
I’m watching open interest on the four-hour basis: it fell from 99,308.71 contracts to 96,167.02,
down 3.16%. Prices are moving up while positions are being unwound.
It’s like goods leaving a warehouse: truckloads are hauled away, while the shelves are still standing there, looking full but actually empty.
That’s the difference.
This leg up is short covering, not new money coming in.
There aren’t more people carrying the sedan chair; the people already sitting in it have jumped off on their own.
The positioning also tells the story.
The 20-day range is 75,690.2 to 84,875.2. The current price is only at the 54.42nd percentile—above the midpoint, but still some distance from the top.
$ETH has already reached the 72.48th percentile, while $SOL is at just 33.13%. A gap of over 30 points between them—that’s what unfinished rotation looks like.
Funding is just 0.005066%, hovering around zero. Long-account share is 58.01%; leverage is nowhere near overheated.
Liquidity is deep, with $18.93 billion in daily trading volume, but tokens are changing hands rather than being accumulated, and buying support is weaker than last week.
It’s still the same few plates of food; whoever’s closest to the pot gets served first. Nothing new has been added to the pot, so once this round is served, it’s over.
Do you think this is a genuine breakout or another fake move? Let’s discuss in the comments.
#比特币 #以太坊 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice
