The bears are still holding on, but something feels off.


PROVE today surged 42%, with a trading volume of $603 million, but what’s truly alarming is that open interest (OI) skyrocketed 608% in a single day, with new positions flooding in like a floodgate opening.
Funding rate -0.181%, with eight consecutive periods of short sellers paying, yet the price remains near the high level, while the spot premium is negative, as if someone is shorting while being forced to cover.
With this kind of order book, how many more rounds do you think the shorts can endure?
$PROVE
Generated using Claude Opus 4.7 model. Claude is AI and can make mistakes. Please double-check responses.
PROVE-11.29%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned