DRIFT 24-hour volatility at 40.4%: Volume surge and open interest explosion drive rebound
Bitget Pulse2026/04/13 06:34Volatility Overview
In the past 24 hours, DRIFT price rebounded from a low of $0.0334 to a high of $0.0469, currently quoted at $0.0468, with an amplitude of 40.4%. 24-hour trading volume surged significantly. According to CoinMarketCap data, it reached $102 million, while CoinGecko reported $19.89 million, showing increased activity compared to previous periods.
Brief Analysis of Abnormal Fluctuation Reasons
- Trading volume and Open Interest (OI) surged simultaneously: X platform monitoring showed an explosive 88.88% increase in OI, with trading volume skyrocketing 124%, accompanied by a negative funding rate of -0.7167%, triggering a short squeeze.
- Rebound after liquidity sweep: On April 12, X analysts detected buy-side liquidity signals, and the price broke through the key resistance at $0.04183, achieving a 4.8% increase within an hour.
No official announcements or reports of large on-chain whale movements in the past 24 hours. For context, the earlier April 1 hacking incident (which caused over $280 million in losses) is referenced, but this rebound is disconnected from prior panic selling.
Market Opinions & Outlook
The mainstream sentiment in the X community remains bullish. Traders see this as an opportunity for the short squeeze to continue, targeting $0.043-0.044, but an RSI overbought reading above 80 signals a short-term pullback risk. Analysts recommend maintaining support at $0.0377, otherwise a retest of $0.033 is possible.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring and is for informational reference only.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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