SKYAI (SKYAI) 24-hour volatility at 69.1%: Capital outflow triggers correction after a 544% surge this month

Volatility Overview

Over the past 24 hours, the price of SKYAI surged from a low of $0.35048 to a high of $0.59273, with a fluctuation amplitude of 69.1%. The current quote stands at $0.57368, showing a trend of initially bottoming out then rebounding. The 24-hour trading volume is about $107 million, a significant increase of 134.69% from before. In terms of funds, perpetual contract net outflows reached $25.7 million, and spot market outflows amounted to $1.15 million.

Brief Analysis of Abnormal Movements

- In the perpetual market, there was a large-scale capital outflow of $25.7 million, with open interest (OI) declining by 16%, triggering a 15% price correction. Total liquidation losses amounted to $261,520, mainly due to stop-losses being triggered and active position closing by traders.

- The spot market saw an outflow of $1.15 million, with the long-short ratio dropping to 0.92, indicating shorts dominated trade and amplified volatility.

- Exchange whale actions: Gate.io and others sold about 14% of their holdings (decreasing from around 621 million tokens to 379 million tokens), while Bitget transferred 1.1 million tokens between hot and cold wallets and sold on PancakeSwap, intensifying selling pressure.

Market Opinions and Outlook

The community sentiment is divided. Some traders on X platform are bullish, calling for longs to $0.70 or even $2 and see the pullback as a buying opportunity; others warn of a “Red Monday” risk-off situation, watching for a potential break below the $0.527 support level. Mainstream analysts view this as a minor pullback after a 544% monthly surge. The funding rate remaining positive at 0.038% suggests bulls are still dominant. If the $0.5387 resistance holds, there may be a rebound to $0.6166, but further liquidation-driven volatility should be watched closely.