🟢 $INIT · 1h Price +7.1%｜Open interest -3.1%
Current price: $0.25
📊 Market data
• Open interest/market cap: 19.12M / 54.81M (control ratio 35%)
• Funding rate: -2.000% (shorts pay)
• Long/short structure: Retail 0.61→0.68 (short positions piling up)｜Whales 0.92
• Market-maker activity: 460K shorts liquidated in 1h｜Position increase on external exchange: Gate +17%
🗂 Market-maker cycle (newly recorded · 📤 Distribution, topping out)
• Distribution benchmark: approx. $0.25 (cycle peak open interest: 23.02M)
• Previous reversal: 11/10 $0.1998 Longs reached a peak gain of +41.9%, then took profit → cycle reversed from long to short
🧠 Signal: 🔴 Short on distribution (long-to-short reversal) ★★★☆☆
After surging well above the market maker’s cost zone, retail traders chased longs at the highs and became exit liquidity. Large spot outflows indicate the market maker has officially begun distributing at the highs, reversing from long to short.
Current price: $0.25
📊 Market data
• Open interest/market cap: 19.12M / 54.81M (control ratio 35%)
• Funding rate: -2.000% (shorts pay)
• Long/short structure: Retail 0.61→0.68 (short positions piling up)｜Whales 0.92
• Market-maker activity: 460K shorts liquidated in 1h｜Position increase on external exchange: Gate +17%
🗂 Market-maker cycle (newly recorded · 📤 Distribution, topping out)
• Distribution benchmark: approx. $0.25 (cycle peak open interest: 23.02M)
• Previous reversal: 11/10 $0.1998 Longs reached a peak gain of +41.9%, then took profit → cycle reversed from long to short
🧠 Signal: 🔴 Short on distribution (long-to-short reversal) ★★★☆☆
After surging well above the market maker’s cost zone, retail traders chased longs at the highs and became exit liquidity. Large spot outflows indicate the market maker has officially begun distributing at the highs, reversing from long to short.
