Speaking of which, $CHZ ‌ don’t be fooled by the market’s rally; the signals on the chain reveal more hidden information. Several whale addresses that repeatedly traded CHZ in the 2022-2024 wave have recently started splitting and transferring chips, with some flowing to exchanges. This is not small retail activity; it’s wave-trading funds quietly taking profits at high levels.

The large traders’ long-short line based on position size has been steadily declining from high levels. The bullish traders who drove the market earlier are mostly short-term hot money, not long-term investors. Reducing their positions will likely happen even faster than the rally.

Out of the 1 billion daily trading volume, half is driven by wash trading to boost trading activity, with genuine spot buy orders accounting for less than 20%, indicating no long-term support. Moreover, there have been no new sports IP collaborations recently to catalyze the market; this wave is entirely driven by leveraged sentiment.

In the short term, it will oscillate between 0.044 and 0.046, tricking you into thinking it’s preparing for a breakout. It’s highly likely to break below 0.04 support within 48 hours, and within a week, it may fall back to around 0.035. This hot money that enters and exits quickly cannot sustain a long-term trend.