$SKY This really feels like an emotional fuse. I refuse to chase.
Spot is only $1.71M, while the perpetuals have already surged to $7.74M—there’s a 4.5x gap right there, and the meaning is pretty clear. The price is at $0.0587, the 24h high is $0.05906, and it’s not far from the top, which suggests the money went to the perpetual market first to shout.
The funding rate is only +0.0050%, not exactly outrageous, but open interest is already stacked to 184,660,672 $SKY . This kind of setup is something I’ve seen way too many times—what it means is that some people are getting positions in early, while others are still chasing from above. The market then gets cramped very quickly.
Look at it today: it’s moved from $0.05245 to where it is now, up a little over 11%. The number of trades is 37,448—not the kind of all-over-the-internet viral hype, more like a small spark that suddenly pops up in the discussion board. The smallest coins fear this the most. If the spot doesn’t follow up, the perpetuals end up topping off the emotion by themselves, and when it finally dips, it hurts.
Do you think it has no chance? It does. If it’s going higher, at minimum you’d need to see spot volume rise along with it. Otherwise, I’d rather just stand by and watch. Are you going to pick up this $SKY now, or wait until that short-term hype in the perpetuals has cooled off?
$SKY #加密货币 #BinanceSquare
If you can’t handle it, don’t get on the train—anyway, I’ve learned from experience that I lost money too.
Spot is only $1.71M, while the perpetuals have already surged to $7.74M—there’s a 4.5x gap right there, and the meaning is pretty clear. The price is at $0.0587, the 24h high is $0.05906, and it’s not far from the top, which suggests the money went to the perpetual market first to shout.
The funding rate is only +0.0050%, not exactly outrageous, but open interest is already stacked to 184,660,672 $SKY . This kind of setup is something I’ve seen way too many times—what it means is that some people are getting positions in early, while others are still chasing from above. The market then gets cramped very quickly.
Look at it today: it’s moved from $0.05245 to where it is now, up a little over 11%. The number of trades is 37,448—not the kind of all-over-the-internet viral hype, more like a small spark that suddenly pops up in the discussion board. The smallest coins fear this the most. If the spot doesn’t follow up, the perpetuals end up topping off the emotion by themselves, and when it finally dips, it hurts.
Do you think it has no chance? It does. If it’s going higher, at minimum you’d need to see spot volume rise along with it. Otherwise, I’d rather just stand by and watch. Are you going to pick up this $SKY now, or wait until that short-term hype in the perpetuals has cooled off?
$SKY #加密货币 #BinanceSquare
If you can’t handle it, don’t get on the train—anyway, I’ve learned from experience that I lost money too.