Recent market volatility has intensified, with on-chain and capital-flow data showing clear selling pressure.
On the news front, Nvidia has been accused of funding AI startups to purchase graphics cards in order to create an artificial supply-demand squeeze. If this capital maneuvering strategy is genuine, it could continue to affect how computing-power-related assets are valued. Geopolitically, the Saudi-led coalition successfully intercepted two ballistic missiles launched by Houthi forces. Riyadh’s danger alert has been lifted, and regional tensions have eased temporarily, offering the market a brief respite, though macroeconomic uncertainty remains.
In the derivatives market, major cryptocurrencies are all showing signs of price weakness, but open-position structures have not turned bearish in tandem. BTC has fallen sharply, yet its funding rate remains positive (0.0047%). A long-short account ratio of 3.73 indicates that longs are dominant, but a taker buy/sell ratio of 0.85 suggests sellers are actively driving prices down. ETH and SOL have also plunged sharply, and their funding rates have turned negative, with bears holding a slight edge. However, their long-short account ratios are as high as 4.35 and 4.29, respectively, suggesting that many retail traders are still betting long against the trend while institutions continue to sell aggressively via market orders. BNB is weak, with its funding rate near zero and buying and selling forces relatively balanced, though buyers have a slight edge.
The total stablecoin market capitalization remains at $287.78 billion, essentially unchanged over the past 24 hours. This suggests that off-exchange investors are cautious about entering the market with fresh capital, and that activity is mainly focused on the turnover of existing positions rather than market expansion. Data shows that despite falling prices, the number of long accounts remains high, diverging from the active selling pressure. Be alert to the risk of a further decline following a long squeeze. Given the current tug-of-war, where do you think spot support lies?
On the news front, Nvidia has been accused of funding AI startups to purchase graphics cards in order to create an artificial supply-demand squeeze. If this capital maneuvering strategy is genuine, it could continue to affect how computing-power-related assets are valued. Geopolitically, the Saudi-led coalition successfully intercepted two ballistic missiles launched by Houthi forces. Riyadh’s danger alert has been lifted, and regional tensions have eased temporarily, offering the market a brief respite, though macroeconomic uncertainty remains.
In the derivatives market, major cryptocurrencies are all showing signs of price weakness, but open-position structures have not turned bearish in tandem. BTC has fallen sharply, yet its funding rate remains positive (0.0047%). A long-short account ratio of 3.73 indicates that longs are dominant, but a taker buy/sell ratio of 0.85 suggests sellers are actively driving prices down. ETH and SOL have also plunged sharply, and their funding rates have turned negative, with bears holding a slight edge. However, their long-short account ratios are as high as 4.35 and 4.29, respectively, suggesting that many retail traders are still betting long against the trend while institutions continue to sell aggressively via market orders. BNB is weak, with its funding rate near zero and buying and selling forces relatively balanced, though buyers have a slight edge.
The total stablecoin market capitalization remains at $287.78 billion, essentially unchanged over the past 24 hours. This suggests that off-exchange investors are cautious about entering the market with fresh capital, and that activity is mainly focused on the turnover of existing positions rather than market expansion. Data shows that despite falling prices, the number of long accounts remains high, diverging from the active selling pressure. Be alert to the risk of a further decline following a long squeeze. Given the current tug-of-war, where do you think spot support lies?