$RIVER surged by 11% over the past 24 hours as capital inflows increased sharply, particularly across the perpetual futures market. The move marked a sudden reversal after days of heavy sell pressure, but analysts warn the rally may carry significant bull trap risks.
Perpetual Market Activity Fueled the Rally
Throughout the week, RIVER faced intense selling activity, with nearly $1.94 million in net selling recorded across the spot market. However, momentum shifted after strong inflows entered the perpetual market.
Open interest climbed by 3%, reaching nearly $76 million, while the funding rate turned positive — A sign that most new positions were concentrated on the long side.
Binance Traders Turn Aggressively Bullish
Binance traders showed strong optimism toward $RIVER, with the exchange’s long-to-short ratio climbing to 2.26. This suggested heavy buying concentration among Binance participants.
The broader market painted a different picture though. Across other exchanges, the overall long-to-short ratio dropped below 1 to 0.97, implying sellers still dominated globally.
Bull Trap Risks Continue to Rise
Technical indicators suggested the rally may lack strong bullish momentum.
The Bull and Bear Power indicator showed only weak buying pressure forming, while the Relative Strength Index continued trending lower in negative territory — A signal that selling pressure may still be building.
Final Summary
Although perpetual inflows helped push $RIVER sharply higher, market data suggests the rally may be fragile. Diverging trader sentiment and weak momentum indicators continue raising the possibility of a sharp reversal if buying pressure fades.
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