CFX: this played out, passive perp bids propping up price so they can offload spot (see funding). We may have another little squeeze before this distribution concludes
@Keith_SGH @shit17044739 so on CFX we filled some passive bids down here. this inventory needs to be offloaded and it can be done by squeezing shorts back up to 0.23/0.24 (path 2). we could also just continue drifting lower (path 1), but then it's better to short on the backside retest imo
18.54K
40
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.