Talk about pnut, pnut is currently a relatively stable meme overall, and is more easily influenced by the overall market. If there is no significant capital participating in the main force to create a situation for going long right now, the cost-performance ratio will not be as good as going long on Bitcoin directly. If going short, it also won't be able to decline independently like before; going short must also consider the situation of the overall market. If the overall market rises, it's not advisable to go short against the trend. If there is a significant capital movement in pnut, I will post separately.

$PNUT Yesterday, the pnut contract increased its holdings by 20%. The long and short positions are not very strong, so we can only speculate whether the main force will use this capital for short-term operations.

Currently, it appears that after a quick rebound to 0.186 yesterday, selling started immediately, which means that the long positions in this capital have been cleared at a high level. There has already been a noticeable increase in short positions, and the four-hour pattern has also broken down. In the future, it is likely that it will only follow the market's upward movement for a pullback, mainly for selling off.

There is no need to chase after pnut anymore, as the main force has given up on short-term operations. The medium to long-term outlook is not very optimistic either. If entering a short position, it is highly likely to also follow the market's rebound for a pullback, so one can wait for the pullback to gradually enter short positions.