ICNT surged 45% in one day! Retail investors collectively liquidated, how much longer can it go under the manipulation of the big players?
Recently, the small altcoins have been rising too crazily, and the gainers list is almost entirely occupied by them. Today, the biggest gainer is ICNT, which rose more than 45% in just one day; this increase is quite alarming.
The reason for its sharp rise is actually quite straightforward. Many retail investors have been shorting it, and the funding rate has been negative, so the big players took the opportunity to go long and pushed the price up, resulting in those short contracts being liquidated.
Additionally, this coin does not have a spot trading pair, so the big players can manipulate the price however they want, which is particularly convenient. My personal opinion is that at this position, everyone should not be in a hurry to short. It’s better to wait for the market trend to become clearer before taking action; it’s not too late to act, and don’t rush to exhaust your ammunition, you need to keep some.
Blindly placing orders will ultimately result in losses greater than profits; awareness determines height. Follow Yuzhe for daily sharing of trading logic and help you find opportunities for doubling your capital! (If you want to operate on short-term contracts within the day, you can enter 聊天室)
