On-chain data for AT paints a picture of strong market correction, where the holder structure is undergoing a significant rebalancing phase.
The current price is around 0.09042 USD, down about 6.69% in the last 24 hours, reflecting significant short-term selling pressure in the market, which is not a sign of weakness but a natural part of the market cycle.
The 24-hour trading volume reached 12.14 million USD, indicating market activity, with ongoing buying and selling movements, but no breakthrough in a positive direction, instead a testing of support levels.
The Cumulative Volume Delta (CVD) index for both spot and futures is recording deep negative values (-87.747 million and -857.832 million USD respectively), a clear signal of prevailing net selling pressure in the market. This indicates that sellers are pushing prices down, but it is also a process of market cleansing.
An interesting point is the Funding Rate, a metric that measures the cost of holding open positions in the futures market, which remains slightly positive at 0.0020. This implies that, although prices are falling and selling pressure is strong, futures buyers are still willing to pay a small fee to sellers, indicating a certain level of recovery expectation or that short positions are being closed, alleviating downward pressure.
However, Open Interest (OI), the total value of all outstanding futures contracts, has significantly decreased from around 70 million USD to 50.753 million USD. This decline, combined with falling prices, often signals that leveraged positions are being closed, particularly long positions being liquidated or voluntarily closed to mitigate risk, indicating that cautious sentiment is increasing, but at the same time, it alleviates future market burdens.
The Long/Short Ratio structure in the last 24 hours shows 48.19% long and 51.81% short, a slight imbalance leaning towards short, further reinforcing the view of short-term bearish sentiment. In summary, these data suggest that the current holder structure of AT is leaning towards short-term traders realizing profits or cutting losses, along with a significant reduction in leveraged positions. This is not a sign of weakness but a necessary correction phase, eliminating weak positions and potentially establishing a more stable foundation for further development, effectively rebalancing the market.
In summary, the AT market is at a crucial correction stage, where short-term selling pressure and the closing of leveraged positions are occurring strongly, creating restructuring opportunities. Two high-probability scenarios: One, prices will continue to seek new support levels as weak positions are completely eliminated, creating attractive re-accumulation opportunities. Two, if a positive triggering factor appears, the market could see a rapid reversal as shorts cover positions and new longs enter, pushing prices up. In every scenario, risk management is the key factor. No stop-loss is slow suicide.
This is not investment advice. Please do your own research and make your own investment decisions.
