BNT's trading activity surged roughly
↗91%
over the past 24 hours as short-position holders began paying those betting on price increases.
Contrasting signals emerging
Price edged up roughly
↗2.6%
over the past week while selling pressure remained heavy with 3.5x more sellers than buyers over the past 24 hours, and investor positioning in trading contracts expanded roughly
↗4.3%
over the same period.
Short-position costs reversing
The cost to hold short positions turned negative at approximately -0.067% per 8 hours, meaning those betting against the price are now paying those betting for it, while total liquidations hit approximately $211M over the past 24 hours.
On-chain activity shows caution
Investors realized losses on recent transactions (SOPR at 0.9883) while a small net outflow of approximately $0.01M from exchanges over the past 24 hours suggests modest accumulation despite the cautious sentiment.
Year-long decline provides context
The price declined roughly
↘63.8%
over the past year, now trading approximately 98.9% below its all-time high, which helps explain the cautious investor sentiment visible in current metrics.