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All I can say is: FTX has the biggest CEL volume

of all exchanges.

So... Futures has positive Funding Fee...
So it means that there are more sellers.
Sellers paying premium to buyers.
Alright. As expected.

SPOT: 600k short selling on spot.
Thats 600k. Is there even sells to absorb 600k cover at FTX orderbook?
Try to hit 600k now to see where is the liquidity.

These 600k +/- short is holding forever...more than 1-3 months while retail keeps dumping while price does not go up

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Too easy to pump. Notice the decrease of volume. I am sure when inflation/fear subside, it can recover as easily.

Great analysis! 🧐

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