I’ll be honest, this move caught attention. A clean +45% push like this doesn’t happen randomly. You can clearly see buyers stepping in aggressively after that dip around 0.10, and once momentum kicked in, it just kept climbing without much resistance.
But what really makes this interesting is what’s happening behind the scenes.
Open interest is rising sharply, which tells me new positions are entering, not just price moving on low liquidity. That usually means real participation. Volume also backs it up, strong activity from both sides, but buyers clearly took control during the move.
Now the basis is also pushing up, which shows growing bullish sentiment. Traders are willing to pay a premium, expecting higher prices. That’s a strong signal, but also something to be careful with when it gets too crowded.
The only thing I’m watching closely here is the current pause near the top. Price is slowing down a bit after that push. That’s normal, but this is where things decide.
For me, this is a momentum-driven setup. If it holds above this zone and buyers stay active, it can continue higher. But if momentum fades, it can pull back quickly because these fast moves don’t usually stay stable for long.
Right now, it looks strong…
but the real question is, who’s buying here… and who’s already taking profit?
