Beef

$TROY mentioned Troy today, so let's track Troy. Currently, it seems that the main force is slowly building short positions. The 8-hour contract has accumulated an outflow of 47 million, but the contract open interest is still continuously increasing.
However, the price fluctuations have been too small, raising concerns that limit orders (non-active market price purchases) could easily be recognized as outflows. Additionally, I noticed a large number of limit orders around 0.795, which raises concerns about potential misleading signals. This coin itself belongs to the highest difficulty altcoins, so one should be more cautious.
It is not recommended for everyone to participate at this high level right now, because if you compare its contract open interest and market capitalization, you will see that this main force is very wealthy and has super strong control. If you short it, it is quite normal for them to pull back by 20% and wipe out most people's losses, and then immediately have a waterfall drop. Therefore, I do not strongly recommend that everyone become envious of its waterfall or surge right now. Even if they have built a large number of short positions, as long as they control their liquidation price well, it is not difficult for them to instantly pull up and eat retail losses, as the assets are basically in the hands of the operators.