Audiera (BEAT) extended its rise on July 22, rising 13% in early trading hours. Market Value exceeded 810 million dollars.
The rise may be prolonged as futures traders maintain bullish positions. BEAT’s 890% gain in 180 days also places the latest move within a broader uptrend.
Are whales supporting BEAT’s rally?
This rise coincided with increased whale activity before the price increase.
The Whale-Retail Delta rose to 0.0123, its highest value since June 25. A positive reading indicated that whale positioning was stronger than retail positioning.
But the measurement did not prove that whales caused BEAT’s rise. He also could not determine how long these investors planned to hold their positions.
BEAT is up nearly 48% in 30 days as whale positioning remains elevated. This alignment supported the upward trend but did not constitute a direct causality.
Is spot selling threatening BEAT?
Selling pressure continued to be seen in the spot market due to the fact that some traders made profits.
CoinGlass recorded sales volume of $2.55 million and net sales of approximately $233,000 in three days. Within 24 hours, the market recorded sales volume of $1.7 million and net sales of approximately $170,000.
The seven-day Spot Netflow showed net sales of approximately $42,000. However, comparing absolute Netflow values in different periods may reveal a misleading picture.
Approximately $90,000 in net sales were recorded in the 12-hour window. These figures confirmed that sales were continuing but could not determine whether traders were making profits or cutting their losses.
Therefore, BEAT still needs sustainable Spot demand to support its bullish positioning based on futures.
Continuous market activity supports the bulls
Continuous market activity has trended positively and continues to support the bulls. At the time of writing, the open interest-weighted funding ratio, which constantly measures capital in the market and skews whether positioning is long or short, reflects this trend.
The rate reached 0.0051% in the last 24 hours; This means that slightly longer contract positions than short positions control $68.70 million in permanent capital.
This moderate rise indicates that the positioning is not overly risky, keeping capitulation risk low and leaving a more likely outcome (in this example, an uptrend) as the price continues along the path it is currently on.
Final Summary
- BEAT gained 13% as whale activity and bullish futures positioning supported sentiment.
- While spot sales remain the main risk, a limited overheating was seen in Funding Rates.
