MYX Nears All-Time High Amid Bearish Sentiment
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BTCCSquare news:
MYX Finance's altcoin surged 22%, approaching its record high of $18.91, yet derivatives traders are positioning for a reversal. Funding rates have plummeted to monthly lows as short contracts accumulate, reflecting skepticism about the rally's sustainability.
Nearly $12.89 million in short positions face liquidation if MYX reaches its all-time high—a scenario that could trigger volatile upside from forced buying. The altcoin's momentum now hinges on a clash between bullish inflows and bearish pressure from profit-taking.
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