Memecoin leads the cryptocurrency rally, with an average increase of 9.11%, while SPX6900 rises about 16%. Although bullish capital inflows have pushed open interest to $42 million and favor long traders (with short liquidations causing $100,800 in losses and long losses of $5,800), sellers remain entrenched. Data shows negative funding rates and large liquidity below the current price, indicating ongoing selling pressure and the risk of economic downturn.