MNT is at risk of falling as whales signal take profit.

The cryptocurrency market has shifted its attention to Mantle (MNT) as it experiences a strong bullish trend, supported by both activity in the derive market and accumulation from whales.

At the time of the press, Mantle was trading at $1.26, slightly down after reaching $1.4, attracting significant interest from investors. This move comes after a week of continuous bullish speculation in the derive market, along with improving on-chain trends.

MNT price chart | Source: Bitcoin MagazineHowever, while the short-term price action seems positive, the question is whether Mantle can sustain this bullish momentum sustainably, especially as the broader market volatility continues to challenge the strength of altcoins.

What caused the price of Mantle to surge?

One of the key factors driving the bullish trend of Mantle is the recent partnership with Bybit, which includes the integration of staking, opening up new profit opportunities for investors holding the token. This collaboration has enhanced accessibility for investors, boosting capital flows from institutions and strengthening Mantle’s position in the broader market context.

In addition, the growth of the network, supported by the increase in stablecoin circulation, has also contributed to the rising demand for MNT. Therefore, the bullish trend of the token is not only driven by technical trading activities but also by the fundamental expansion of the ecosystem.

These developments have combined to create strong momentum, bringing Mantle into the spotlight of traders.

The significance of open interest growth

Open interest has surged by 43%, now reaching $112 million, reflecting an increase in speculative demand. This rise indicates that more traders are actively betting on the next price movement of Mantle, often a precursor to increased volatility.

Typically, a strong increase in open interest signals new leveraged activity, amplifying both bullish and bearish risks. However, with the price of Mantle rising alongside this increase, the current momentum seems to lean towards bullish bets.

Source: CoinGlassTherefore, the derivatives market reinforces the belief that traders expect continued bullish pressure in the short term.

Are large investors driving the bullish wave through large orders?

The on-chain indicators show a significant increase in whale-driven transactions, as the average size of spot orders has risen considerably. This indicates that large investors are accumulating MNT, contributing to the bullish narrative emerging from the derive markets.

The accumulation of whales often provides both liquidity and confidence for retail investors, thereby strengthening the sustainability of the trend. However, while this signals strong confidence from large investors, it can also lead to significant profit-taking events.

Source: CryptoQuantTherefore, whale participation remains a double-edged factor, but in the case of Mantle, it seems to lean towards reinforcing the current bullish trend.

Does the net flow confirm strong accumulation?

The net cash flow data from exchanges reinforces the bullish picture, showing that $9.78 million has been withdrawn in the past 24 hours. Continuous net cash flows at this level indicate that MNT is moving off exchanges for storage or staking, which often reduces selling pressure.

This aligns with the bullish trend of Mantle, as decreasing liquidity on exchanges can amplify price increases when demand rises.

Source: CoinGlassIf this pattern continues, the price may be supported by an immediate reduction in selling pressure and stable demand from whales.

Can Mantle maintain this momentum?

The recent bullish trend of Mantle has been driven by a strong combination of outflows from exchanges, whale accumulation, and speculative positions bolstered by an increase in open interest.

Moreover, the partnership with Bybit and the integration of staking provide fundamental support beyond short-term trading factors. However, sustainability depends on whether the buying pressure continues to exist in the face of increasing leverage risks and the ability of whales to take profits.

Currently, Mantle maintains a strong bullish structure, indicating that its price increase may continue further, although volatility will still be a determining factor in upcoming trading sessions.

Mr. Giáo