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Back in 2023, FET was trading around the $0.40 area before the AI narrative truly exploded and AI altcoins became one of the strongest sectors of the market.
Markets tend to repeat similar structures and cycles, even if the timing and catalysts are different.
That’s why I’m keeping a close eye on $FET at these levels.
I mainly trade the market rather than holding a large SPOT portfolio, and $FET is one of the few assets I’m comfortable holding.
No rush. I’m patient and willing to wait for the next AI cycle to unfold.
$BTW is currently showing a strong long-side imbalance.
Around $79M in long positions are open, compared with just $11M in shorts. Whale positioning tells a similar story, with approximately $78.5M in long exposure versus only $10.3M on the short side.
The most interesting part: over 97% of whale longs are currently in profit, while only around 9% of whale shorts are profitable.
That puts significant pressure on the short side.
If $BTW continues to push higher, short sellers could be forced to close positions, potentially triggering another wave of buying and accelerating the move.
However, there’s one important risk: longs are already heavily crowded. If momentum suddenly reverses, the same crowded positioning could become fuel for a sharp long squeeze.
The data is strongly bullish, but I’m watching the next move carefully.
Personal view based on the positioning data I’m tracking. DYOR.
If we look closely at the Open Interest chart, there’s an interesting pattern: price moved first, and OI followed.
A few days ago, BTW made a massive upside move before quickly retracing toward the $0.20 area. At the same time, Open Interest was heavily flushed.
Now the setup looks different.
Price has recovered, while OI is still sitting below its previous peak.
Meanwhile, positioning remains heavily skewed toward shorts: • ~65% of accounts are short • Top traders are even more short-biased at ~69% • Volume has picked up significantly • Funding remains positive, meaning longs are still paying shorts
That creates a potentially crowded short side.
From a market-psychology perspective, I wouldn’t be surprised if $BTW makes one more aggressive move higher before the larger correction begins.
If price continues pushing up, those crowded shorts could start getting liquidated. That forced buying may create additional momentum and trigger a short squeeze, potentially sending $BTW significantly higher before the market finally turns.
My current view:
One more sharp pump first → short squeeze → then potentially a much bigger correction over the next few days.
Of course, this is only my personal view based on the data and positioning I’m tracking.