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$KAITO Mysterious spot market rally over the weekend...
The official account hasn't been updated for 5 days...
At this point, I can understand those who are not selling Kaito, but those who are aggressively selling or going long in the spot market are a bit intriguing...
There are two possibilities:
1. A large short position has been trapped, encountering a dedicated low-liquidity market manipulator, pushing for a short squeeze...
2. The official might release some positive news on Monday, and the market is front-running the news...
Looking at the contract basis being negative and driving the rally, it really is spot-led, so who is actually buying? Why are they buying?