Market indicators suggest an increase in selling pressure for TRUMP coin
According to CoinDesk, Trump's TRUMP token has recently stirred up waves in the crypto market. However, despite its futures market's open contracts increasing by 6% within the past 24 hours, a key derivatives market indicator is sending bearish signals.
The Cumulative Volume Delta (CVD) of TRUMP perpetual futures shows that the gap between buying and selling volumes has dropped by more than 1%, implying an increase in selling pressure. This means traders are either choosing to short or close out long positions. In addition, the funding rate of the market has overheated, with investors holding long positions needing to pay an annualized funding cost exceeding 170%. If price momentum stalls, long positions may face liquidation pressure leading to deeper price corrections.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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