The recent $LIGHT price action was not a mere pullback, but a full-scale flush. 📉 In just five and a half hours, price plummeted over 77.7%, liquidating late leverage and executing what market observers call a textbook "harvest."

Activity surged dramatically, with 24-hour trading volume exploding to $2.13B. This briefly propelled #light into the top 3 on Binance futures, behind only BTC and ETH. The extreme volatility fueled $4.84M in liquidations across both long and short positions, according to Coinglass. 💥

But here’s where the story gets intriguing.

Despite the sharp price crash, the underlying market dynamics reveal a different picture. Open Interest (OI) dropped significantly from $53.32M to $18.79M, primarily due to price compression rather than widespread position closures. Interestingly, contract holdings actually increased, rising from 11.97M LIGHT to 18.79M LIGHT. 📈

Furthermore, large holders appear to be leaning long, with the whale long-short ratio climbing to 1.63. This suggests a potential accumulation by significant players. 🐳

While the price experienced a severe correction, positioning data tells a more complex narrative. "Weak hands" were cleared, and leverage was reset, yet conviction players might still be actively involved.

This event was more than just a crash; it was a market reset. And based on current data, the market action for $LIGHT might not be concluded. 📊

Don't Forget those 3 Caution(s) on #LIGHT too.

{alpha}(560x477c2c0459004e3354ba427fa285d7c053203c0e)
(LIGHTUSDT)