• ARB jumped 21% after defending $0.30, reaching a local high of $0.39.

  • Rumors of a Robinhood partnership fueled massive volume and investor FOMO.

  • Bullish momentum builds as buy volume, Open Interest, and RSI continue rising.

Arbitrum’s ARB has roared back to life. After holding the crucial $0.30 support, ARB catapulted by over 21%, tapping $0.39 before easing slightly. This rally wasn’t random. It came with a thunderous wave of demand and rumors that sent traders scrambling. With bulls tightening their grip, a real shot at $0.40 is back on the table. But is the climb sustainable—or just a sugar rush before another drop?

https://twitter.com/First1Bitcoin/status/1939625454216032609 Demand Floods the Market

Before the price of ARB spiked, sellers ruled the scene for five straight days. Red candles painted the charts, and sell volume drowned out buys. Then the tide turned—fast. On June 30, bulls stormed back. Coinalyze recorded $148 million in buy volume against $132 million in sales. That $16 million gap signals more than interest. It screams aggressive accumulation. Speculation added fuel to the fire.

Whispers of a Robinhood and Arbitrum partnership spread like wildfire. The rumor? A blockchain platform that could allow Europeans to trade U.S. stocks. Whether true or not, fear of missing out kicked in. Trading volume exploded 495% to $660 million. That's not a trickle—that’s a flood. As new capital rushed in, ARB climbed with it. Meanwhile, exchange netflow dropped to -362.9k. More ARB left exchanges than entered. That usually hints at holders moving assets into cold storage. Less supply, rising demand—classic recipe for a price surge.

Derivatives Data Paints a Bullish Picture

Derivatives markets echoed the bullish tone. Open Interest skyrocketed 43.2% to $248.8 million. Derivatives volume blasted up 538.4%, hitting $1.23 billion. These aren’t small moves. They show big players entering the game. The long-short ratio rose to 1.037. Translation? Most traders are betting on a price increase. These positions don’t come cheap. The money speaks louder than rumors.

MACD flashed a bullish crossover and rose to -0.0057. RSI climbed from 45 to 57, signaling buyers are back in control. Momentum builds like a snowball rolling downhill—fast and dangerous. If buyers keep pushing, $0.39 might flip into solid ground. Above that, $0.40 becomes the next frontier. But momentum needs fuel.

For now, any slowdown, and bears could drag ARB back to $0.30. The market moves fast. Hope, fear, and speculation pull it in every direction. Right now, Arbitrum rides a wave of optimism. Traders are watching out to see if bulls can hold the line and push further, or will the rally run out of breath. Be vigilant. This battle isn’t over.