Exchange behavior adds weight to bullish theories. According to spot Inflow/Outflow data, ICP saw $3.62 million in net outflows last week.
Outflows of this size, especially in a consolidation phase, often signal accumulation by long-term holders.
Meanwhile, in the past 24 hours, traders showed strong interest in long positions.
On CoinGlass’ Liquidation Map, $909.48K in long positions have been stacked around $4.65, accounting for a large chunk of this exposure.
At the same time, short positions have formed near $4.93, just under the breakout level.
The dual pressure zone creates what traders call a liquidity pocket. And whichever side gives first could trigger a swift move.
In fact, this tight coil of long and short leverage is a classic precursor to volatility
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