- FET surged over 15%, supported by bullish funding rates and strong perpetual market positioning.
- Spot buying and exchange outflows signal growing demand, while whale activity reinforces bullish sentiment.
- A key liquidation zone could trigger a reversal if selling pressure suddenly increases.
Fetch.ai — FET, has surged more than 15% during the latest crypto market rebound. The token reached around $0.15 as traders increased buying pressure. Several market signals now point toward stronger bullish momentum. Perpetual traders continue favoring long positions across FET markets. Spot demand has also strengthened as tokens leave centralized exchanges. Whales appear to support the current upward move as well. However, one important price zone could still trigger a short-term reversal.
Perpetual Traders Maintain a Bullish FET Outlook
FET’s perpetual market currently shows strong confidence among traders. Most open positions remain long, reflecting expectations for further price gains. The open interest weighted funding rate also supports that view. Funding recently climbed to 0.0210%, reaching the highest level since June 20. The increase shows stronger demand for leveraged long exposure. Capital committed to FET perpetual contracts stood around $83.33 million.
However, traders should watch liquidation levels before assuming the rally can continue. The liquidation heatmap shows notable clusters around the $1.2 level. Buy orders around that zone were worth roughly $500,000.Large liquidation clusters can attract price movement toward heavily positioned levels. Yet current orders around $1.2 appear too limited for major selling pressure. Traders should therefore treat the zone as a potential retracement area.
The broader derivatives market also shows a clear advantage for buyers. Short traders have suffered much larger losses than long traders recently. Short liquidations reached roughly $462,750 during the latest move. Long liquidations stood near $34,670 during the same period. That difference means short traders lost approximately 13.3 times more money. Such liquidations can further strengthen upward momentum when buyers remain active.
Spot Demand and Whales Strengthen the Rally
FET’s spot market also shows signs of stronger accumulation. Around $16.81 million worth of FET moved from exchanges into private wallets. Netflows remained negative at approximately $296,690. Negative exchange flows often suggest investors prefer holding tokens outside trading platforms. Such behavior can reduce immediate selling pressure across spot markets.
Buying activity has also remained strong across a broader period. FET recorded roughly $76.43 million in buying activity over 15 days. Netflows during that period reached approximately negative $2.9 million. Whale behavior provides another bullish signal for FET traders. Large holders appear more willing to retain tokens during the current rally. Whales often influence market direction because their transactions can affect available supply.
The current whale activity suggests confidence in further upside. However, traders should avoid assuming that bullish momentum will continue without interruption. The recent rally has already attracted substantial attention from leveraged traders. Excessive long positioning could eventually increase correction risks.
