#altcoins Whales are not showing signs of accumulation in Gitcoin (GTC). Instead derivatives data shows that large traders are becoming increasingly bearish.
Twelve percent of whale accounts are net long on perpetual futures down from fourteen percent last week while retail traders remain forty-three percent long showing a clear difference between whale and retail positioning.
Whales’ average short entry is two hundred and twenty-six cents suggesting that large traders are positioning for further downside. Although GTC recorded a trading volume spike of five hundred twenty-six million tokens in October later, on-chain data suggests this activity was more likely driven by selling and distribution rather than genuine long-term accumulation. Overall smart money appears bearish while retail traders are still hoping for a recovery.
#crypto #Binance #BinanceSquare $GTC #GTC
Twelve percent of whale accounts are net long on perpetual futures down from fourteen percent last week while retail traders remain forty-three percent long showing a clear difference between whale and retail positioning.
Whales’ average short entry is two hundred and twenty-six cents suggesting that large traders are positioning for further downside. Although GTC recorded a trading volume spike of five hundred twenty-six million tokens in October later, on-chain data suggests this activity was more likely driven by selling and distribution rather than genuine long-term accumulation. Overall smart money appears bearish while retail traders are still hoping for a recovery.
#crypto #Binance #BinanceSquare $GTC #GTC