2026-01-23 02:01:56

As of the morning of January 23 (Bangkok time), the performance of the RIVER token has been crazy—its price has soared to a record high of $67.20, a 42.9% increase in 24 hours. Trading volume has also exploded, reaching nearly $50 million. It looks exciting, but a closer look at the data reveals some tricks.

What is the real story behind this surge? Frankly, it’s mainly driven by aggressive futures leverage. The spot trading volume is relatively small, but the futures trading volume is over 80 times that of the spot, and open interest remains high at $230 million. This uneven trading structure essentially indicates a leverage bubble being inflated.

Interestingly, even after 1.5 million RIVER tokens (worth nearly $40 million, accounting for 4.32% of circulating supply) were unlocked on January 22, the price didn’t fall but instead rose. What does this mean? It shows that market sentiment has already reached a boiling point, and the bulls are starting to go a little crazy.

From a short-selling perspective, the risks here are indeed significant. Although short-term liquidations mainly target long positions, the shorts are actually slowly accumulating strength. When sentiment reverses, these accumulated leveraged positions could collapse like a house of cards. High futures open interest combined with extreme price volatility often signals an impending market reversal.

For investors looking for trading opportunities, the current market does present some interesting shorting levels to watch. But the prerequisite is understanding the market’s fragility—it may look solid, but it’s actually a house of cards built on leverage.

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RektHunter

· 01-23 12:27

Damn, 67 bucks? This is just a bubble blown up by leverage, the house of cards is collapsing right before our eyes. Futures 80x compared to spot, this is playing with fire, waiting to be liquidated. Tsk, the big unlock is still rising? The bulls are really crazy, the signs of sentiment peaking couldn't be more obvious. Once this reversal happens, the short domino effect can instantly wipe out a bunch of people, so satisfying. Open interest of 230 million, just waiting for that moment to trigger an explosion, making a killing on short positions. It looks solid but it's just a paper house, all supported by leverage, I don't believe you. Liquidation wave, come quickly, the bulls should spit it out.

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blocksnark

· 01-23 02:24

Damn, it's another typical leverage frenzy, with futures trading volume 80 times the spot. They're just waiting for an explosion. Everyone trying to buy the dip now is just cannon fodder. I can't help but sweat for them. The price of unlocking so many coins is still rising. These bulls are really crazy; they'll have to take the fall sooner or later. The house of cards is about to collapse. Short sellers, it's time to step in. Short-term trading is indeed a bit useless; better to wait until you're clear before acting. This is a textbook bubble pattern. Whoever gets caught is just unlucky.

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AlgoAlchemist

· 01-23 02:20

House of Cards is indeed about to collapse; it all depends on who runs away first. --- Futures trading volume is 80 times that of spot trading? Isn't that playing with fire? It will burn sooner or later. --- Unlocking 40 million and still rising, how crazy is this market? --- The bulls need to be educated this time; 230 million in open positions waiting to explode. --- The opportunity to short has arrived; it all depends on whether you dare to bottom fish. --- Really? It's all leverage stacked up; a poke and it breaks. --- I just want to know how many people will get liquidated this time. --- High open interest combined with extreme volatility, the reversal signal is very clear. --- Emotions are at a boiling point; the domino effect is coming, right? --- When the reversal happens, the bears will be the winners.

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AirdropHunter9000

· 01-23 02:13

House of Cards indeed, but can this wave keep flying for a while? When the bulls go crazy, no one can stop them --- Leverage bubble talk is daily, but the real question is how to make money? --- Really, futures volume is 80 times the spot, isn't this just setting a trap for the shorts? --- Wait, will it still rise after 1.5 million unlocks? The bulls are really losing it --- I'm tired of hearing the domino theory; why not talk about exactly when it will collapse? --- Every time, they say the house of cards is about to fall, but it just rises again—that's ridiculous --- The data looks pretty clear, just don't know when the reversal will happen; it's too hard to predict --- The bulls have been building up strength for days, why haven't they cleared out yet? --- The open interest of 230 million is hanging there, I'm really scared --- Shorting at the right level sounds good, just worried about getting trapped

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WindCityBearishTraders