$BICO This wave, I’m inclined to treat it as an emotion-driven single push rather than a really solid new trend.
The reason it gets onto the leaderboard is probably not that suddenly a lot of people are seriously researching it. It’s more like capital in small coins is looking for elasticity—whoever has a chart that looks good, a low position, and a name that hasn’t gotten boring, is more likely to be kicked off first.
I just finished washing up and glanced at the screen. Doudou was sitting by the keyboard, even calmer than I was 😂
But the market action is indeed a bit interesting. $BICO spot is now at $0.0154, up 9.63% in 24h. The high-low range is $0.01569 to $0.01382. This kind of move looks like it gets pushed up first, then keeps probing to see who will pick it up.
What’s more important is the structure.
Spot traded only $1.25M in 24h, while the futures traded $5.22M—directly about 4.2x. With a gap like this in small coins, I get a little uneasy just looking at it. It suggests there’s heat, but more of it is leverage amplifying emotions, not that particularly solid spot bid.
The funding rate is still -0.0289%, which is also pretty subtle. Prices are rising, but the funding is negative—meaning the market isn’t one-sidedly excited. Longs and shorts are actually pulling against each other inside: some people are chasing, while others are stubbornly holding the line on top.
Then look at open interest: 203,722,529 $BICO —not exactly small. With price up, OI high, and funding still slightly negative, I’d interpret this combo as: it made it onto the leaderboard today not just because the spot itself got hot, but because the futures side is pushing the volatility up.
So my stance is very clear.
I won’t chase. If I do anything, I’d only wait for a pullback to see how strong the support/acceptance is, or wait for sentiment to ferment for a bit more. I don’t want to catch the last baton when everyone’s already running hot-headed.
The worst thing about coins like this isn’t that they don’t go up—it’s when they rise so much that your hands get itchy, and then once you get in, they start grinding you.
The market is changing; what’s true today might not be true tomorrow. $BICO #BICO