$BMT This morning’s rally looks more like shorts paying up than fresh news bringing buyers in.
On the evening of November 6, Bubblemaps teased that it would expose a major KOL who had extracted millions from their audience. The post got about 1.13 million impressions and 7,111 likes, but no name has been revealed yet. At the time of the announcement, the price was hovering around 0.024, then drifted lower to today’s 4 a.m. low of 0.02237.
Starting at 9 a.m. today, trading volume jumped from just over 100,000 U to more than 2 million U in a single hour. The price is now around 0.0250, up about 8% in the past 24 hours, with an upper wick after reaching a daily high of 0.02567. Open interest grew from a nominal 4.14 million U at 9 a.m. to about 5.21 million U. Funding rates have been negative for days, settling at around -0.37% at noon today.
A bearish turn would be signaled by a 1-hour close back around 0.0225, alongside falling open interest and narrowing negative funding. Shorts would be invalidated if the price breaks above 0.02567 on rising volume while open interest continues to expand, which could turn into a short squeeze. The teaser has already had one chance to move the price, but buyers didn’t stick around then.
Can the still-unnamed teaser sustain this volume surge?
#Bubblemaps揭KOL预告 #BMT Shorts pay up
On the evening of November 6, Bubblemaps teased that it would expose a major KOL who had extracted millions from their audience. The post got about 1.13 million impressions and 7,111 likes, but no name has been revealed yet. At the time of the announcement, the price was hovering around 0.024, then drifted lower to today’s 4 a.m. low of 0.02237.
Starting at 9 a.m. today, trading volume jumped from just over 100,000 U to more than 2 million U in a single hour. The price is now around 0.0250, up about 8% in the past 24 hours, with an upper wick after reaching a daily high of 0.02567. Open interest grew from a nominal 4.14 million U at 9 a.m. to about 5.21 million U. Funding rates have been negative for days, settling at around -0.37% at noon today.
A bearish turn would be signaled by a 1-hour close back around 0.0225, alongside falling open interest and narrowing negative funding. Shorts would be invalidated if the price breaks above 0.02567 on rising volume while open interest continues to expand, which could turn into a short squeeze. The teaser has already had one chance to move the price, but buyers didn’t stick around then.
Can the still-unnamed teaser sustain this volume surge?
#Bubblemaps揭KOL预告 #BMT Shorts pay up
