Next is it going up or down?

In the short term, there’s a hurdle above.

Open interest is approaching 9 million USD, leverage funds are surging wildly, and the funding rate once dropped to below -1%. This kind of deep negative funding rate means the bears are still clamping down; once there’s a rebound, it would trigger a short squeeze.

KAT’s fundamentals are actually not bad—Alchemy has just completed deep integration, there’s no VC unlock pressure, and TVL has already reached 250 million USD. The dip-buying funds at 0.009 are locked up very tightly, and the main players still hold a large amount of chips, so there’s motivation to keep pushing higher.

However, on May 18, there’s a token unlock of 2.63 million USD. Even though it’s not large, there will be some short-term selling pressure. Long Jie will watch the on-chain data closely; once the main addresses start topping up into exchanges, that’s a signal to take profits and exit.

If you didn’t catch it, don’t worry. Long Jie will keep watching—next target is already on the way.$KAT #加密市场行情震荡