Last week, #SPX6900 a thrilling market unfolded 📈— the price once surged to $1.51, with an increase of up to 12.38%, but then quickly fell back to $1.39. This market movement brought the actions of both retail investors and whales under scrutiny: retail investors crazily entered the market, while whales took the opportunity to take profits 💸.#以太坊生态山寨币普涨
🏦 Retail investors are flooding in, pushing up SPX
When SPX6900 dropped to around $1.2, retail investors began to buy on dips, leading to a short-term price rebound 📈.
Meanwhile, the trading volume of memecoins surged by 124.9%, reaching $83 million, and the market capitalization rebounded to $1.4 billion.
Overall, retail power is strong, but the market remains fragile—small purchases push prices up but cannot completely offset the selling pressure from whales.
🐋 Whales are offloading, the signal is clear
Despite the short-term rise, whales have begun to cash out: Nansen data shows that the largest holder sold 1.16 million SPX, with an actual transaction of about 397,700.
The balance of the largest holder has changed to negative, dropping to a low of -790,000
Capital outflow exceeds inflow, a typical cash-out signal 💣
In other words, the short-term increase is more driven by retail investors, while large players are reducing their positions, which is also a key reason for the price drop.
📊 The derivatives market is also bearish
The futures market for SPX also suggests risk:
Derivatives trading volume surged by 166.6%, with open contracts increasing by 12%
The long-short ratio has decreased to 0.843, with shorts at 54% and longs at only 45.7%
The short position of the top trading accounts reached as high as 0.57–0.63
This means that even if retail investors enter the spot market, large players in the futures market are still betting on a decline in SPX, creating significant hedging pressure ⚖️.
📉 Momentum indicators suggest short-term weakness
Technical indicators show that the rebound of SPX6900 lacks sustained momentum:
RSI dropped from 46 to 43, entering the weak zone
MACD fell to -0.091, indicating insufficient buying pressure
In simple terms: although there are some pushing for short-term increases, the market power is imbalanced, and the long position is insufficient.
🔮 Short-term trend outlook
Downside risk: If whales continue to sell, SPX6900 may fall back to $1.21
Rebound potential: If retail investors hold firm and bullish sentiment rises, SPX is expected to recover $1.5 and even aim for the $1.7 resistance level
The current market is like a 'seesaw', with retail pushing prices up while whales and shorts continue to suppress; the short-term market is highly volatile, and operations need to be cautious ⚠️.
💡 Investment Tips
Pay attention to whale movements: large sell-offs typically indicate short-term corrections
Observe the long-short ratio in derivatives: the short ratio is rising, increasing short-term risk
Technical indicators reference: Low RSI and MACD indicate weak buying pressure
Retail short-term opportunities: Buying on dips can still be attempted, but set stop-losses properly
In summary: The short-term rise of SPX6900 attracts retail investors, but whale sell-offs and short pressure make sustained increases difficult; the short-term market is like a roller coaster 🎢, and operations need to be cautiously managed with support and resistance levels.
✍️ Remember to DYOR, manage risks well, and wish everyone a smooth sailing in the crypto space! 🌊
Many understand the trend, but few follow the right rhythm.
Like 👍 and share, follow me to catch more market opportunities, and let's watch the bull and bear fluctuations together! Let's keep it up!
In the current market environment, short-term operations are indeed necessary. If one keeps waiting for the spot market to rebound, it may feel like a test of time. I have recently been fully engaged in secondary short-term and primary dogecoin operations, yielding good results; those who want to join can feel free to follow me!
