PENGU dropped by 11% in 24 hours, Open Interest plummeted by 19% (~15.4 million USD), but the Long/Short Ratio of 1.6 on Binance and positive funding of 0.0082% indicate that buying pressure may push the price up again soon.
The capital withdrawal from derivatives is putting downward pressure, but the positive net spot flow and strong buy signals on Binance are balancing the risks, opening up the possibility of a recovery if demand persists.
MAIN CONTENT
Open Interest decreased by 19% (~15.4 million USD) and nearly 1 million USD long was liquidated.
Binance leads OI ~22.7 million USD; Long/Short Ratio 1.6 and positive funding 0.0082% support the buying side.
Spot netflow +2.26 million USD/48 hours; on December 10, accumulated 1.76 million USD, today 509,000 USD.
PENGU is under liquidity withdrawal pressure
PENGU witnessed a 19% decrease in Open Interest (~15.4 million USD) alongside falling prices, reflecting increased bearish sentiment in the derivatives market.
In the past 24 hours, PENGU was the largest loser in the top 100 (according to CoinMarketCap). Data shows the market turning against the buyers, with nearly 1 million USD in long positions liquidated in recent days.
The Long/Short ratio reached about 9.9 : 1.1 in recent days, indicating that forced liquidation of longs far exceeds shorts. The combination of OI withdrawal and long liquidation reinforces short-term downside risk.
A rebound signal appears
On Binance, buying power prevails with a Long/Short Ratio of about 1.6 and positive funding, suggesting an increased probability of price recovery.
Although not all exchanges are withdrawing capital, Binance holds the largest OI of about 22.7 million USD for PENGU. Here, buying volume has surpassed selling in the past day, indicating confidence from the bulls.
OI-weighted funding has turned positive to 0.0082%, meaning most capital comes from long investors paying premium fees. This usually reflects short-term bullish expectations as buyers accept holding costs.
The spot market supports the upward trend
Positive net spot flow of around 2.26 million USD/48 hours indicates continuous accumulation.
Most accumulation occurred on December 10, with approximately 1.76 million USD of PENGU bought net. Today, the figure reached about 509,000 USD; if the buying momentum continues, total inflow may exceed the previous day.
The spot signal is in phase with derivatives on Binance, reinforcing the recovery scenario after a brief correction, as long as the capital flow does not weaken.
Short-term scenario for PENGU
The probability of recovery increases if funding remains positive, Long/Short > 1 and spot netflow continues positively; risks exist due to significant OI withdrawal and longs being liquidated.
Positive scenario: capital flow on Binance leads, stable funding, increasing spot accumulation → gradual recovery. Risk scenario: OI continues to decline, funding decreases or turns negative, Long/Short weakens → risk of further decline or long squeeze.
Investors should monitor: OI trends, funding signals and magnitude, Long/Short across major exchanges, and daily spot netflow to confirm the next directional move.
Risk notes
High derivatives volatility; prolonged positive funding could trigger a long squeeze if prices reverse.
Increased leverage ratio exacerbates volatility during liquidations. Risk management with cautious leverage levels and cross-monitoring of spot-derivatives is necessary during this period.
Frequently asked questions
Why did PENGU drop sharply by 11% in 24 hours?
Open Interest has decreased by 19% (~15.4 million USD), indicating capital withdrawal from derivatives. At the same time, nearly 1 million USD in long positions were liquidated, reflecting short-term bearish sentiment and increasing selling pressure.
Which indicators suggest the possibility of PENGU rebounding soon?
On Binance, Long/Short Ratio ~1.6 and OI-weighted positive funding 0.0082% indicate dominant buying power. Additionally, positive spot netflow of about 2.26 million USD/48 hours indicates continuous accumulation.
Which metrics should I monitor to confirm the trend?
Priority: Open Interest trends, funding levels/rates, Long/Short Ratio around the 1 mark, and spot netflow. Negative funding combined with decreasing OI warns of risk; sustainable positive netflow reinforces the recovery scenario.
Source: https://tintucbitcoin.com/ben-mua-gom-pengu-sau-giam-11/
Thank you all for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
$BTC $ETH $BNB $XRP $SOL