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After HYPE reaches a new high, buying momentum is retreating.
Today at noon, after HYPE broke the new high of $70, the TWAP net buying volume clearly declined.
In the past hour, it has turned into a net selling volume of $202k; the net buying volume in the next 24 hours is $3.91 million — whereas this morning, that number was about $54 million.
From $54 million to $3.91 million, the expected net buying volume has shrunk by over 90%.
TWAP reflects the execution pace of large funds. After reaching a new high, the net buying volume plummeted, indicating that the willingness of big funds to chase the high is rapidly cooling down.
Prices are hitting new highs, but buying is quietly retreating — this divergence warrants caution.
Hayes' calls are everywhere, but the real gold and silver on the chain have already started to hold back.