Markets· ★★· bearish·

PUMP drops to $0.0054 as $8.3M in longs get liquidated

  • —PUMP fell 9% to a low of $0.00509 after rejection at $0.0061
  • —Long liquidations totaled $8.3 million versus $0.7 million in shorts
  • —Trading volume climbed 55% to $605 million
  • —Futures netflow dropped 237% to -$10.7 million
Why it matters: Spot demand is absorbing pressure for now, but continued derivatives selling could break $0.005 and open the way to $0.0046.
#PUMP
Source: AMBCrypto
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