- Two whales, Meteora and Binance, hold opposing positions on TRUMP—one buys while the other sells.
- Interestingly, Binance traders are not aligned with the exchange’s position, as they continue to open long bets on the asset.
In the past 24 hours, Official Trump [TRUMP] has recorded a modest price increase, reclaiming the $8.20 level. However, the asset’s short-term potential remains uncertain as whales oppose each other.
Market traders, on the other hand, appear more decisive about where they expect TRUMP to head. Yet, further analysis by AMBCrypto reveals a more complex picture.
Whales tussle over TRUMP with diverging positions
Two major crypto entities (Meteora and Binance) each holding a significant TRUMP supply, have taken opposite stances.
In the last 24 hours, Meteora recorded a negative exchange netflow of $1.84 million in TRUMP tokens, suggesting accumulation. This brings its TRUMP holdings to $121 million, typically indicating bullish sentiment.
Source: Arkham Intelligence
Meanwhile, Arkham data shows Binance moved in the opposite direction. As Meteora accumulated, Binance saw a positive netflow of $2.04 million in TRUMP, indicating a sell-off.
This clash between whales may increase volatility, leaving retail participants unsure of market direction and potentially reducing their exposure.
However, despite these developments, Binance still holds the second-largest TRUMP position, with $227 million worth of tokens.
Interestingly, retail investors on Binance didn’t follow the entity’s downside action. Instead, they remained bullish.
Retail traders on Binance stay bullish
AMBCrypto’s analysis found that Binance retail investors are opening long positions, supported by rising Funding Rates and Open Interest. This divergence is unusual, as retail traders often follow the lead of whales.
The Funding Rate which is used to determine which market side (bulls or bears) is paying the funding fee currently shows Binance bulls are in control.
It has risen to 5.1%, suggesting most Binance retail traders are bullish and are positioning for an upward move.
Source: Arkham Intelligence
In addition, the Open Interest on TRUMP has reached $95.41 million on Binance, indicating growth in the futures contract size.
Combined with the positive Funding Rate, it means the Open Interest is largely dominated by long positions, reinforcing the expectation that the asset could trend higher.
Up or down: Where is TRUMP heading?
At press time, TRUMP could go in either direction, that’s a rally upward or trend lower. The liquidation heatmap highlights liquidity on both sides of the current price, offering mixed signals.
Liquidity zones often act as magnets, pulling prices toward them. With significant liquidity above and below current levels, the market remains at a critical junction.
Source: TradingView
However, the TRUMP daily chart provides a clearer outlook. TRUMP recently broke out of a bullish descending channel, pointing to a potential move higher.
For the rally to solidify, TRUMP must first break through the $8.729 resistance. If successful, the next obstacle lies in the supply zone between $10.707 and $12.364.
Clearing this range could pave the way for a further rally toward $17 and possibly $24.