Key Takeaways
What caused SPX‘s recent 28% rally?
Oh, just some little things like the MACD Golden Cross and RSI jumping into the bullish zone. Nothing major, right? Just a normal week in the markets! 📈
How are investors reacting to SPX’s wild surge?
Whales are throwing their wallets around like there’s no tomorrow, while retail investors are quietly cashing out, watching their profits melt like ice cream in a desert. 😅
SPX6900 [SPX] has gone on a 28% rally over the past week, thanks to a little thing called “market liquidity” that’s been flooding in like a tidal wave. 🌊
It turns out that whale activity on Binance has been the unsung hero of this rally, according to the astute analysts at AMBCrypto, who uncovered the mysterious forces behind the madness.
Why did SPX prices spike?
The SPX market has been having a good ol’ time with a major bull rally recently, thanks to the magic of bullish technical patterns. 🌟
First off, the Moving Average Convergence Divergence (MACD) gave us a gift: the Golden Cross. It’s like when the blue MACD line gets cozy and crosses above the orange line, signaling that the money train is rolling in. 🚂💰
Meanwhile, the Relative Strength Index (RSI) was flexing hard, climbing into the “bullish zone” between 50 and 70. At the time of writing, it was cruising at 54. If you don’t know what that means, it’s basically like saying things are looking pretty darn good. 🚀
$19 million inflow: What’s the deal with that?
In the latest plot twist, Open Interest shot up like it’s been drinking energy drinks, rising to $101 million. 🎉
Derivatives investors decided to pour a juicy $19.4 million into the market. Who knew that much money could fit in a single day? 💸
And get this: the Weighted Funding Rate is sitting at a cool 0.0119%-the highest it’s been since September 21st. Yes, you can thank the market gods for that one! 🙏
The Long-to-Short ratio shows that Binance’s top traders (with their snazzy accounts) are making big waves, with ratios of 1.35 and 1.02. This is buying activity, folks-so buckle up! 🔥
Not to be outdone, Binance traders managed to handle $64.72 million in total trading volume, with 495,240 trades. Yup, that’s one heck of a number to deal with. 🏦
Retail investors push back
But hold your horses-retail investors are not here to just watch the fun. Data from CoinGlass’ Exchange Netflow shows that retail investors have been selling SPX like it’s going out of style, unloading a whopping $2.1 million worth of SPX so far. 😱
Thankfully, that selling pressure has slowed down a bit. They only sold $370,000 worth the past day. A little less panic, a little more profit-taking, right? 😜
But don’t get too comfortable. Such outflows can definitely slow things down and even derail the bullish party. 🛑
SPX price outlook
The outlook? Oh, it’s looking pretty positive-at least for the bulls! The SPX has broken above a descending resistance line and is moving upward like a hot air balloon. 🏀
If bulls keep riding high, we could see SPX shoot towards the next resistance at $2.28, extending this rally like a never-ending Netflix series. 🍿
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2025-10-03 18:22