$AKE 13: Trading volume surged to about 2.6 times its previous level over six hours, yet the share of accounts holding long positions fell from about 67% to about 44%, while short positions increased. It’s not advisable to chase shorts.
At 13:00, about 16.26 million U drove the price up from 0.00262. At 14:00, about 64.45 million U pushed it straight to 0.00448. At 17:00, about 63.70 million U drove another surge, and at 18:00 it reached the daily high of 0.00685. Total trading volume from 13:00 to 19:00 was about 340 million U. At 19:20, about 12.80 million U first drove it down to 0.00583. At 19:40, about 10.75 million U pushed it back up to 0.00675, but it failed to break the daily high. At 19:45, about 12.13 million U drove it down to 0.00561 before it recovered. It’s now around 0.0062, about 10% below the daily high.
Open interest was about 3.75 billion contracts before 13:00 and is now about 4.46 billion, up roughly 19%. The share of accounts holding long positions fell from about 67% to about 44%, while the share among large-trader accounts fell from about 68% to about 40%, suggesting more people are opening shorts as the price rises. The funding rate is positive, though: +0.071% at 16:00 and about +0.104% currently, charged every four hours, meaning longs are paying.
Short positions are already crowded, and open interest is still rising, so chasing shorts now risks getting squeezed. To confirm a reversal, watch for a high-volume break below 0.00561 accompanied by a decline in open interest. A high-volume move above 0.00685 would invalidate the short thesis for this move.
#AKE账户多头降到四成四 #The higher it rises, the more people open shorts
At 13:00, about 16.26 million U drove the price up from 0.00262. At 14:00, about 64.45 million U pushed it straight to 0.00448. At 17:00, about 63.70 million U drove another surge, and at 18:00 it reached the daily high of 0.00685. Total trading volume from 13:00 to 19:00 was about 340 million U. At 19:20, about 12.80 million U first drove it down to 0.00583. At 19:40, about 10.75 million U pushed it back up to 0.00675, but it failed to break the daily high. At 19:45, about 12.13 million U drove it down to 0.00561 before it recovered. It’s now around 0.0062, about 10% below the daily high.
Open interest was about 3.75 billion contracts before 13:00 and is now about 4.46 billion, up roughly 19%. The share of accounts holding long positions fell from about 67% to about 44%, while the share among large-trader accounts fell from about 68% to about 40%, suggesting more people are opening shorts as the price rises. The funding rate is positive, though: +0.071% at 16:00 and about +0.104% currently, charged every four hours, meaning longs are paying.
Short positions are already crowded, and open interest is still rising, so chasing shorts now risks getting squeezed. To confirm a reversal, watch for a high-volume break below 0.00561 accompanied by a decline in open interest. A high-volume move above 0.00685 would invalidate the short thesis for this move.
#AKE账户多头降到四成四 #The higher it rises, the more people open shorts
