Derivatives Market 21/5 – Altcoin Dipping, Memecoin 'Unrivaled'
This morning, opening the derivatives board, I couldn't help but be startled by the red spread from BTC to XRP, SOL, SUI, or HYPE, even though BTC only slightly decreased by −0.4%. The futures volume of ETH and XRP fell by −10% and −29%, respectively, and OI (24h) also shrank across most major pairs, indicating that speculative capital is fleeing.
The only bright spot is
- TRUMP (+7.7% price, volume +117%, OI +24%) – this memecoin keeps breaking out even as the entire market struggles.
Looking at the funding rate, most futures funds are 'paying' a positive fee (long pays short), meaning the Long side is dominating but not translating into sustainable price momentum. This is a warning sign: when everyone thinks prices will rise, the risk often comes from an unexpected pullback.
Personal Strategy
1. Mid-tier ALT:
– Short SOL/SUI when H1 closes below 165/3.75, SL 1%, TP 3–5%.
– Limit holding time to no more than 12h; OI is decreasing, lacking momentum.
2. BTC – ETH:
– Short BTC perp around 106k, SL 1.2%, TP 2–3% towards the 102–103k range.
– For ETH, short when it breaks below 2,500, SL 1.5%, TP 2–4%.
3. 'Surviving' Memecoin:
– TRUMP is seeing a strong increase in volume & OI; if BTC adjusts, this could be the 'last resort' memecoin to hedge. Long TRUMP small with tight SL of 5%.
Portfolio Defense:
– Hedge 30% spot BTC by shorting perp;
– Reduce altcoin leverage to a maximum of 2x;
– Monitor funding and OI every 4h to be ready to cut orders.
The market is entering a 'margin liquidation' phase after a series of pumps. The key is not to predict the top or bottom but to manage risk carefully: enter small, have tight stop losses, and don't rush to extend positions.
Personal analysis, not investment advice.
