$SPELL 【🌟Rate Analyst】Detected an anomaly in SPELL rates (-0.64%):
- 📉 Funding rate -0.64%: Short sellers are in control, but major players are accumulating positions in the opposite direction. Many long positions were liquidated around 0.00025, short sellers took profits, and major players are taking advantage of the low price to build positions, waiting for the next round of price increases.
- 📊 OI surged to 2.2M: Open interest hit a new high for this phase, indicating a massive influx of leveraged capital. However, the price is fluctuating repeatedly around 0.00025, clearly a "washout + bull trap" tactic by major players, inducing a rally before dumping shares and accumulating cheap holdings.
- 🚨 05:20-05:35: Price moved from 0.0002503 to 0.0002484, volume was 558K, but the OI continued to increase, indicating a wave of long positions being liquidated. The market maker took the opportunity to buy, a classic "long squeeze" trap.
- 🔥 05:40 Suddenly, the price pulled back to 0.0002528, volume was 384K, but the OI decreased, indicating that the market maker reversed course and went long, using short covering and retail investors chasing the price higher to create a false "V-shaped reversal," which was actually a trap to lure in more buyers before distribution.
- 👀 The long/short ratio of large investors remained stable at 1.55-1.67, while the overall long/short ratio across the network changed from 2.06 to 1.77. Large investors were quietly reducing their long positions, while retail investors were still chasing the price. This was the market maker's final setup before "harvesting" retail investors.
- 💣 At 05:55, trading volume plummeted to 137K, and the price fell, but the OI remained high, indicating that the main players have withdrawn, leaving behind only highly leveraged long positions, awaiting the next wave of liquidations.
- 🎯 Key observation level: 0.000245 support. If it breaks below, the main players will launch a new round of short selling, targeting 0.000230; if it holds above 0.000255, it may be a trap to lure in more buyers before liquidating the last batch of long positions and completing distribution.
- 📌 Conclusion: The main players are using a strategy of high-volume manipulation to lure in more buyers → dumping shares → accumulating shares → then pushing the price up again. Currently, they are in the "late stage of accumulation." Negative funding rates are a signal of main players controlling the market. Don't be fooled by the rebound; the downtrend has not been broken. Wait for a breakout before taking action.
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