VELVETЦена Velvet

Velvet (VELVET) has plummeted 75% in a week, with an additional 16% drop in the last 24 hours due to intense selling pressure. This bearish trend is reflected in a Taker Buy Sell Ratio below 1 and a 28% decline in Open Interest, indicating capital withdrawal from the perpetual market. Despite the sell-off, traders maintain a net long position, as shown by a positive Funding Rate. Their conviction is supported by Velvet's significant gains of 59% over the past month and 533% over the quarter. However, recent liquidations have favored short positions. Crucially, spot investors are accumulating, with $1.58 million in net purchases this week, nearly half in the last 48 hours, suggesting they view the price drop as a buying opportunity for a potential near-term rebound.

Velvet (VELVET) has dropped approximately 18% in the last day, though it retains its position as a top market performer with a 571% gain over the past 90 days. Analysis of its perpetual futures market shows a $24 million capital outflow over two weeks, indicating profit-taking and capital flight. However, despite this exodus, a positive funding rate suggests long positions remain in control, pointing to underlying bullish sentiment among traders. The price decline is thus interpreted more as a consolidation phase following massive gains rather than a bearish reversal. The token's immediate direction hinges on a key ascending support line; a hold could spark a rebound, while a break may see a test of the $0.45 demand zone.