IOTA surged over 14% in the past day, with data from the spot, whale, and perpetual contract markets all showing signs of improvement, prompting the market to continue focusing on whether this upward trend can continue.
From the perspective of capital structure, the buying pressure is not solely from retail investors. The ratio of whales to retail investors remains positive, indicating that the net buying power of large-cap accounts is still stronger than that of ordinary traders, a trend that has been continuously strengthening since May 22.
Whale buying and spot buying increased simultaneously.
AMBCrypto, citing market data, reports that IOTA's whale-versus-retail delta is currently 0.341. A positive value for this indicator typically means that whales are still accumulating shares, and at a faster pace than retail investors.
The spot market has also seen more pronounced buying in the past two days. Net flow data shows that IOTA spot net buying was approximately $232,000, reflecting a resurgence in market interest in the asset. While this amount is not particularly large on its own, if buying continues to accumulate, price support will be more stable.
- The indicator comparing whales and retail investors is 0.341.
- Net spot purchases amounted to approximately $232,000.
- The trend of whales increasing their holdings has strengthened since May 22.
Open interest in perpetual contracts rose to $20.24 million.
The derivatives market is also responding to this rally. Perpetual contract funding rates have turned positive, indicating that current market positioning is more bullish. Reports show that IOTA funding rates are currently around 0.0035%, which remains moderately bullish overall.
More noteworthy is the influx of new funds. CoinGlass data shows that open interest in IOTA perpetual contracts rose 25% to $20.24 million. Increased open interest coupled with positive funding rates typically indicates that more traders are increasing their long positions, rather than simply being driven by short covering.
- The funding rate is approximately 0.0035%.
- Open interest increased by 25%.
- Open interest rose to $20.24 million.
There is still room for further upward movement in the short term.
The heatmap shows that IOTA still has room to rise further in the short term, but if more concentrated selling pressure appears above, the upward momentum may slow down after further gains.
While there are areas of concentrated liquidity below, which theoretically could exert some downward pressure on prices, these areas are not currently dense, limiting their downward pull. Overall, the simultaneous occurrence of increased holdings by whales, net inflows into spot markets, and long positions in perpetual contracts suggests that the bulls remain in control in the short term.
