VIRTUAL falls 12% in a day after $1M outflows – Can bulls recover?

VIRTUAL bullish momentum fades as bears take over.

VIRTUAL’s recent rally has reversed, with bears regaining control as spot and derivatives investors collectively sell. Funding Rates across top exchanges have dropped, while volume and liquidity move away from the asset.

The Virtual protocol [VIRTUAL] has recorded one of the steepest declines in the past 24 hours, driving liquidity outflows from exchanges with a 12% price drop, at press time.

This positions it among the worst-performing altcoins in the market, down 28% according to the Altcoin Season Index.

Continued selling in both derivatives and spot markets could exert further downward pressure on the asset, increasing losses. AMBCrypto examines the factors driving this trend