Memecoin leads the crypto market rally, but selling pressure remains strong

HashBandit · 2026-01-04T18:20:11+00:00

Recently, Memecoin has performed well, driving the cryptocurrency market up with an average increase of 9.11%. Although bullish traders are benefiting, selling pressure still exists, and insufficient liquidity could lead to subsequent downward risks.

HashBandit

2026-01-04 18:20:11

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【Crypto World】Recently, Memecoin has performed well, leading the entire cryptocurrency market to rise. The average increase reached 9.11%, with SPX6900 soaring by about 16%. This wave of market activity attracted a lot of capital, with open interest pushed up to $42 million. According to liquidation data, shorts were liquidated for $100,800, while longs only lost $5,800, which seems to be favorable for long traders.

But the problem here is: sellers are still deeply entrenched. From the negative financing rate, the cost of shorting is lower in the market. Coupled with the apparent lack of liquidity at the current price level, what does this mean? It indicates that there may be insufficient buying pressure below to absorb sell-offs. This situation suggests that seller pressure always exists, and the risk of continued downward pressure cannot be ignored.

MEME-2.15%

SPX-3.85%

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MintMaster

· 19h ago

With such heavy selling pressure, still dare to chase? Those who buy the dip are all brave warriors. It's the same old story of negative financing rates, short sellers' costs are ridiculously low, this wave of rise is all fake. SPX up 16%, looks great, but liquidity is terrible, how will it exit later? Memecoin is again cutting the leeks, liquidation data looks good but is useless. The contracts keep pushing higher but ultimately get dumped, I've seen this script a hundred times, maybe fifty. There's no buying support below at all, it's just a facade, feel free to dump.

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HodlTheDoor

· 19h ago

Shorts getting squeezed so much, yet longs are only losing a little? Strange, why does it feel even more dangerous now? --- Negative financing rate, liquidity is also poor. Can it really hold the bottom? I'm still a bit scared. --- Memecoin has surged sharply, but with such heavy selling pressure, I really don't dare to chase the high. --- The liquidation data looks good, but the negative financing rate actually means... shorts are lurking, right? --- A 9% increase sounds appealing, but there's no buy volume below, which is ridiculous. --- Brothers, don't be fooled by surface data; sellers are still here. Be careful of being caught off guard in this kind of market. --- SPX's rise is a bit too much; I feel like it's going to drop back. What do you guys think? --- Is liquidity still being drained to push the market up? Brave, but I need to protect myself. --- Negative financing rate is the real story. Longs, don't be too arrogant.

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MemeEchoer

· 19h ago

Hmm... Watching the short positions get wiped out is indeed satisfying, but we need to be cautious about negative financing rates. Wait, there's no buy-side below? Then why is this wave of gains so fragile? Feels like a correction could make it collapse. Memecoin is like this—skyrocketing today, zero tomorrow. Still, we should be careful.

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Ser_Liquidated

· 19h ago

I'm so glad that the shorts got wiped out, but honestly, with the financing interest rate staying negative all the way, the alarm bells are ringing a bit.

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ServantOfSatoshi

· 19h ago

Negative financing rate is really a tormenting thing. It seems like the bulls have won the liquidation data, but there's actually a big pit underneath. With such low costs on the short side, who can guarantee there won't be another wave? Lack of liquidity is the most heartbreaking issue. The buying pressure can't keep up, brother.

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Frontrunner

· 19h ago

Are they still pushing with such heavy selling pressure? A typical false breakout, don’t be fooled by the liquidation numbers. I bet we’ll see the bottom next week. --- Negative funding rates are a signal we’ve seen before; every time it’s a prelude to a rally, take it easy. --- The lack of liquidity is really concerning. The big players have already been selling at the top, while retail investors chase the high and buy in. --- SPX up 16% looks great, but rallies without a strong backing are just paper tigers. This correction is fierce. --- What does low shorting cost indicate? It shows that big institutions are waiting for the right moment to dump, don’t think that just because shorts are liquidated, you’ve won. --- With a contract volume of 42 million, it’s impossible to hold up against a big sell order; one large sell order can cause a reverse move, really. --- Looking at this analysis, do the sellers not want to go long at all? Why bother forcing a bottom. --- Only 5,800 long liquidations? That’s too few, indicating that the big orders haven’t entered the market; it’s just retail investors hyping themselves up.

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