Behind the 24-hour surge of CC tokens: Perpetual contracts support the market, but are bearish signals already emerging?

Question

【CryptoWorld】CC Token has risen nearly 13% in the past 24 hours, successfully breaking through the previous downtrend channel resistance level, with bulls pushing towards a target price of $0.15. However, a closer look at this rally reveals several issues.

The phenomenon of perpetual contracts supporting the market is quite evident—open interest has surged to $21.1 million. This sounds formidable, but the subsequent data tell a different story. Funding rates have turned negative, indicating that bullish enthusiasm is waning; trading volume has shrunk, and despite the price increase, trading activity is insufficient. This itself is a warning sign.

On the technical side, signs of fatigue are also apparent. Moving averages indicate that the upward momentum is weakening, with signs of declining bullish strength. The combination of contract-driven price increases, negative funding rates, and shrinking trading volume often signals that a downturn may be imminent. Bearish opportunities are brewing.

fren.eth · Accepted Answer

It's just a false surge; if the trading volume can't keep up, it's like handing knives to the bears.

RugPullAlertBot · Answer

Hmm... It's the same contract vampire routine again. With shrinking volume, dare to push? It will fall back sooner or later.

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Negative fee rate means the bulls are withdrawing. Don't be blinded by the 13%.

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Can 0.15 really be reached? I doubt it. This setup looks a bit shaky.

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Haha, perpetual contracts are causing trouble again. Let's wait and see the liquidation show.

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Moving average line showing fatigue, trading volume shrinking—these signals couldn't be more obvious.

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How many times has this trick of supporting the market with contracts been played? Every time, it's the bears turning around and taking over.

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Negative fee rate... The enthusiasm of the bulls disappears as soon as it appears, a typical false dawn.

GovernancePretender · Answer

Hey, wait a minute. This wave of gains looks intimidating. I've seen this kind of contract support pattern many times before. It will definitely crash sooner or later.

HalfIsEmpty · Answer

Hey, isn't this a typical contract rug pull scheme? The price goes up happily but the trading volume shrinks? I bet five cents this wave is going to crash.

SignatureDenied · Answer

It's the same old trick again. When trading volume can't keep up with the price, it will die in any way possible. When the funding rate turns negative, it's a red light... Contract speculators push the price up, retail investors buy in, and what good result can there be?

LightningLady · Answer

It's the same trick again—contract dumping to push the price up, then turning the fee rate negative. Retail investors should wake up. With such poor volume, how dare you chase?

AirdropGrandpa · Answer

Hmm... This wave of CC's rally feels like a house of cards. It looks fierce but is actually hollow. The trading volume is shrinking yet it still dares to rise; sooner or later, it will have to pay its debts.

Contract explosion? Ha, the funding rate has already turned negative and you haven't noticed? I think the bears are about to surge.

A 13% increase is enough to fool the rookies, but it’s just a setup for a sharp drop.

Let's see if 0.15 breaks or not. I bet five bucks it will fall back down.

This is a classic "price rises, volume falls" pattern. The institutions have already started dumping, and you’re still chasing.

Large contract size? That’s just setting up for the bears. A quick dump and it will all explode.

Behind the 24-hour surge of CC tokens: Perpetual contracts support the market, but are bearish signals already emerging?

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