After a capital outflow of 70 million US dollars, PENGU shows signs of recovery—are the bulls working overtime?
The core driver behind the recent price decline of $PENGU is the significant outflow of market liquidity, specifically manifested as:
1: Short-term price pressure: Affected by liquidity loss, PENGU's price dropped over 9% in 24 hours, with the monthly decline further expanding to 23%, indicating significant short-term downward pressure;
2: Capital and positions shrinking simultaneously: Within just one day, approximately 70 million US dollars flowed out of the market, with open contracts falling to 332.66 million US dollars, reflecting that both bulls and bears are exiting the market, with the number of long positions being closed exceeding that of short positions, showing a noticeable decline in bull activity.
The current "liquidity loss pressuring prices" and "emerging bullish signals" in PENGU are not entirely contradictory; the short-term decline is more of a phase adjustment caused by liquidity contraction, while positive signals such as financing rates being positive, spot buying, and technical support suggest that bullish sentiment in the market is still accumulating. Long positions remain favorable!
