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Puppets_Xyz
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$WAL 这波是空头在"送"，越涨他们越加仓
$WAL 这一个小时有意思：在 $0.06 一带磨了 5 个小时不动，5 点半那根小时线直接 +10% 捅穿箱体，$0.065 一带现在是新的战场。
但比价格更值得看的是对面在干什么。衍生品数据显示，资金费率已经打到 -0.24%/8 小时——空头在付钱；多空账户比跌到 0.56，接近三分之二的账户在做空。价格越涨，空头越拥挤，这是典型的逼空燃料结构：多头甚至不用太用力，空头自己平仓就能把价格往上顶。
当然也得说清楚风险：持仓量只有 300 多万美元，24 小时合约成交额却过亿——全是日内快钱在倒手，这种盘子涨得快、砸得也快。Sui 那边 13 号的旧闻早就被市场消化完了，这一波纯粹是技术面加情绪在推。
操作上：$0.06 的箱体上沿现在变支撑，小时收盘跌回去，这套逼空逻辑就不成立。守住的话，下一站看 $0.078 一带（较这轮再涨约 20%）。
Puppets_Xyz
$WAL bears haven't given up yet: the long-short ratio is stuck at 0.53, a new high is coming
When the previous post mentioned short squeeze, $WAL was still at $0.0619. Since then, it hovered between $0.060 and $0.062 for three hours, and just now it pierced $0.0639, with a 24-hour increase of 67.9% and a trading volume of 275 million still expanding.
The long-short ratio hasn't moved at all: 0.56 at 2 AM, now 0.53, the bears are still in the game. According to the previous logic, if the bears don't concede, the squeeze isn't over, and that's how new highs come about.
But one detail has changed: the funding rate dropped from -0.54%/8 hours to -0.27%, and the perpetual discount decreased from 0.8% to 0.36%. Bears remain, but the "life extension fee" they pay has halved. Two possibilities: either some bears have quietly closed positions at the high, or bulls have started taking profits in batches above $0.06, with supply and demand seeking a new balance.
So this wave is likely not over yet; it has just shifted from the short squeeze acceleration phase into a bear grinding phase. $0.06 is now the pivot for long-short turnover; if it holds, bears will keep paying, and there is room to go higher; if volume breaks below $0.06 back to below $0.055, it indicates bulls are starting to retreat, and the squeeze rally is over.
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