The absolute biggest trap in crypto is happening right now, and almost everyone is falling for it! ⚠️
People think $NEAR jumping +9.51% is a bullish signal, but the whale data exposes a massive warzone. An overwhelming 371 whales are heavily positioned in shorts with a massive 40.32M USDT! Even though they are currently down -$921K in unrealized PnL, they are refusing to close. Meanwhile, 90 long whales are also sitting in a loss of -$588K from an average entry of 2.0799.
With a low notional long/short ratio of 21.18%, the market is completely wound up like a spring. I am heavily scale-in to my short position right here because when this fake retail pump loses steam, the drop is going to catch everyone off guard. Don't let this green candle blind you!
People think $NEAR jumping +9.51% is a bullish signal, but the whale data exposes a massive warzone. An overwhelming 371 whales are heavily positioned in shorts with a massive 40.32M USDT! Even though they are currently down -$921K in unrealized PnL, they are refusing to close. Meanwhile, 90 long whales are also sitting in a loss of -$588K from an average entry of 2.0799.
With a low notional long/short ratio of 21.18%, the market is completely wound up like a spring. I am heavily scale-in to my short position right here because when this fake retail pump loses steam, the drop is going to catch everyone off guard. Don't let this green candle blind you!