Wormhole crypto’s latest price rejection – Result of a short squeeze or an organic rally?
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币界网报道：Wormhole (W) faced a price rejection after a recent rally, sparking debate over whether the surge was organic or driven by a short squeeze. Data from Coinglass showed a 20% drop in open interest, suggesting liquidations may have fueled the uptrend. Despite a 30% price increase in 24 hours, W's trading volume remained relatively low, raising questions about sustainability. Analysts noted that while short-term traders capitalized on volatility, long-term holders showed caution. The token's price action mirrored broader market trends, with Bitcoin and Ethereum also experiencing fluctuations. Market sentiment remains mixed as traders assess whether Wormhole's momentum can hold.
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