In the quiet realm of decentralized oracles, where real-world data dances with blockchain APIs, API3’s token price erupted like a champagne cork-90% in seven days, peaking above $1.80. Alas, the revelry was short-lived; a 10% nosedive in 24 hours left traders scratching heads, muttering, “Is this a prelude to chaos or just a nap for the bulls?” 😬📉
But lo! The shorts, like vultures, circle with glee. Funding rates plunged from -0.47% to -1.10%, turning traders into cash-paying prophets of doom. Yet, the price clings stubbornly to life-a testament to bulls who refuse to kneel, even as bears sharpen their knives. A tango of hubris and hope, if you will. 🦅⚔️
Shorts Stack Up as Funding Rate Drops
Funding rates on API3 flipped deeply negative over the past 24 hours. On August 19, the OI-weighted funding rate stood at -0.47%. By August 20, it plunged further to -1.10%. That means most traders are now paying to hold short positions, betting heavily on a price drop.
This shows aggressive short-side sentiment. Yet, the API3 price hasn’t collapsed. It dipped slightly from the peak, but API3 bulls haven’t fully backed off. So despite bearish bets piling up, sellers haven’t taken control at press time.
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Smart Money Buys While CMF and Exchange Data Stay Bullish
Under the hood, buyers still whisper sweet nothings to the market. Chaikin Money Flow (CMF) climbed from 0.04 to 0.10-a subtle ballet of capital inflow, even as prices wobbled. One might call it “accumulation,” though the bulls prefer to brand it as “strategic optimism.” 🎭📈
CMF, that volume-weighted sorcerer, reveals whether gold flows in or out. Currently, it hums a tune of cautious hope.
Exchange reserves corroborate this tale: 30.5% fewer tokens hoarded on exchanges, while the top 100 wallets grew fatter by 25.98%. Smart Money? More like “Savvy Bandits with a Spreadsheet.” 🤓💼
API3 Price Chart Shows Bullish Bias
The 4-hour chart paints a picture of bullish resolve. Price bounced off the 0.236 Fibonacci level ($1.49) like a drunkard clinging to a lamppost. The Bull-Bear Power (BBP) index remains positive at 0.464-a fragile truce, perhaps, but a truce nonetheless. 🧮🔮
If bulls rally, shorts may face a “surprise party” of liquidations, sending prices toward $1.64 and $1.77. But should bears break the $1.24 threshold? Expect a “fire sale” of longs, with liquidations crashing like a greedy toddler’s tantrum. 🚨🐻
All this, dear reader, is a farce of leverage, hope, and the eternal question: “Is this a bull market… or a bear costume party?” 🐃🎭
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2025-08-20 23:55