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Bonk [BONK] Over the last 24 hours, it fell by a massive 10% and fell to $ 0.00002208 at the time of printing.
While this decline was part of the total crypto market during this period, deepeners deepen because most bears seem temporary.
Bonka’s position on the market has seen a huge decline in the last 24 hours. At the time of writing, the open interest rate that measures it measures by approximately 20% to $ 27.8 million.
This means that several running positions were liquidated during this period because the sentiment moved against their direction.
The liquidation data shows that $ 95,370 in positions were closed on the market, with long traders carrying as much losses as possible.
Long traders account for more than 50% of the recorded losses, with $ 74,230 lost on the market during this period.
While the market seems strongly beveled in favor of short traders, there is still some bull hope.
The market volume analysis shows that the fall could end as traders exhaust. The 24 -hour trading volume dropped by 41.91% to $ 77.18 million, dropping along with the price.
A significant decrease in volume, along with a drop in price, means that sales pressure is gradually disappearing. This also means that there is no sufficient momentum to continue the decline.
At the same time, the market traders continue to buy Bonk despite a decline.
Currently, this group of traders has received $ 4 million and moved the tokens to private wallets.
Transition from exchanges to storing cooling means that this group has long been focused on the potential of Bonka.
If this step continues, it is likely to cause the offer to continue the exchange reserves, drive upwards and lead to a large market assembly for Bonek.
That’s not all.
Ambcrypto found that in spite of a decline in open interest overall derivative The market remains bull.
Despite the decline in open interest, the level of open interest remains positive to 0.0029%. This suggests that Longs still dominates, even if the lever effect is reset.
While the metric is trending down, its positive value keeps Bonk within the bull structure of the market – for now.