$H surged 50% to a month high of $0.21 before falling to $0.17, fueled by intense accumulation, but a major supply shock impacted the market.
🔹 Net spot cash flow fell to -$1.02 million signaling accumulation while open interest in futures contracts surged 31% to $127 million. Buyers aggressively defended higher price levels.
🔸 On December 25th, 105 million tokens ($15.29 million) were unlocked. This sudden unlocking is market leading in scale and poses an immediate threat to the recent price surge.
🔹 The battle is intense, with the RSI fluctuating sharply. Bulls need to reclaim the $0.20 level to target $0.27. If the new supply exceeds demand, the price risks a sharp drop to key support levels at $0.12 and $0.10.
With $15 million worth of tokens pouring into the market on Christmas Day, will the strong accumulation in the spot market absorb the supply, or are the bulls falling into a liquidity trap?
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