📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
📉 Traders are massively closing longs: bears are dictating terms in the futures market 🐻
In the last 24 hours, a powerful wave of selling has been observed in the futures market, triggered by active closing of longs. 📊
After the rapid price drop to a local minimum of $112,000, market participants demonstrated an aggressive tendency to sell. This was vividly reflected in the Net Taker Volume, which reached an extreme value of -$175 million over 6 hours. 🔻 Such a value indicates a clear control of the "bears" over the market dynamics, where sell market orders prevail.
🧊 As the market situation partially stabilizes, the pressure has somewhat eased: the net trading volume decreased to –$78 million, which is equivalent to a 2.2-fold reduction in the negative imbalance. Despite this, the balance still remains in the negative zone, meaning that the advantage remains on the side of sellers. ⚖️
📌 Conclusion: the market continues to be under the influence of a downward impulse, although the pace of sales has slowed down. Traders should remain cautious: the order structure remains bearish, and without strong bullish signals, it is premature to talk about a reversal. 🚨 #TopContentChallenge#