Trump Surges 12.40% as Bullish Sentiment Drives Market Rally

In the past 24 hours, Official Trump [TRUMP] has experienced a significant price surge, making it one of the top gainers in the market with a 12.40% increase. This rally has been driven by a shift in market sentiment towards a strong upward movement. Analysis suggests that this price rally could be just the beginning, as market sentiment continues to favor a bullish outlook.

There has been a substantial increase in Open Interest (OI) in the derivatives market over the past 24 hours, indicating that traders are opening more positions on TRUMP. Within this period, OI climbed by 28.42%, reaching $724.48 million. This surge in OI confirms growing interest in TRUMP, although it does not directly indicate whether buyers or sellers are dominating the market.

The Long-to-Short Ratio, a metric that shows whether buying or selling volume dominates, confirms that buyers are currently in control. At the time of writing, the ratio stands at 1.0141, indicating a higher presence of buyers in the futures market. Additionally, the OI-Weighted Funding Rate of TRUMP in the derivatives market has been positive since May 18, marking four consecutive days of bullish momentum. This positive rate confirms that derivatives traders have consistently opened more buying contracts than selling contracts.

Spot traders are also shifting towards a bullish stance. The significant decline in Exchange Netflow indicates that selling pressure has eased, allowing buyers to step in. Traders have purchased $5.84 million worth of TRUMP from the market, following a previous day’s sell-off of $11.80 million. This confirms that profit-takers temporarily dominated the sell-off, but overall, TRUMP remains bullish in the market.

Confidence among investors in the market has remained high. In the last 24 hours, the number of investors anticipating a TRUMP rally has seen a major jump from 64.71% to 73.64%. Market sentiment remains bullish, with investors expecting TRUMP to rise. If this outlook persists, spot traders will likely continue adding inflows, while futures traders maintain their bullish positions.