January 26 News, Enso (ENSO) has caused intense volatility in the derivatives market, triggering approximately $11.67 million in forced liquidations over the past 24 hours, with over 70% of these being short positions swept out, indicating a typical short squeeze driving the price higher. Compared to the 7-day average, this liquidation scale has increased nearly fivefold and has also reached recent highs, highlighting that capital battles have entered a high-risk stage.
In terms of price, ENSO rose 38.3% within 24 hours, with a total increase of 180% over the past week. Meanwhile, on-chain and market data show a sharp increase in trading activity, with daily trading volume up about 170%, and open interest surging 70% within 24 hours. However, spot CVD remains sideways, indicating that this rally is mainly driven by leverage rather than sustained long-term buying.
Some traders have begun to issue warnings. Sardauna on X platform pointed out that ENSO’s short-term gains are too large, and the market is in an overextended state, with significant risks in chasing higher. From a technical perspective, the daily chart has broken through the previous downtrend line, with key levels at $0.844 and $1.178 being retaken, suggesting a bullish tilt. However, resistance above $2 remains strong, with historical highs at $1.992 and $2.785 not yet effectively broken.
In shorter timeframes, the 1-hour chart still maintains a bullish structure, as long as the price does not fall below $1.63, the bullish pattern remains intact. Important support zones are around $1.3, $1.06, and $0.72; if Bitcoin continues to weaken, these levels may be tested.
For investors who have already taken profits, gradually locking in gains is a more prudent strategy; traders who have not entered yet can wait for a pullback near $1 to reassess risk-reward. However, it should be noted that in an environment of high leverage and high volatility, ENSO may experience sharp rebounds even after short-term corrections, making risk management more critical than directional judgment.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Glassnode: Bitcoin spot ETF capital outflows stabilize, 14-day net flow turns upward
Gate News Announcement: On March 6, Glassnode posted an analysis on the X platform stating that the outflow trend of Bitcoin spot ETF funds has stabilized, and the 14-day net flow trend has turned upward, indicating that as Bitcoin breaks above $70,000, selling pressure is easing. Glassnode pointed out that institutional demand remains in a tentative stage, but early signs of reaccumulation are beginning to appear.
GateNews20m ago
Today, the cryptocurrency Fear and Greed Index dropped to 18, and the market remains in extreme fear.
Gate News reports that on March 6th, according to Alternative.me data, the cryptocurrency Fear and Greed Index dropped to 18 today (March 6th), down from 22 yesterday (March 5th), indicating that the market remains in a state of "extreme fear."
GateNews43m ago
Ethereum breaks through $2000 but is still being shorted? Culper Research questions the impact of Fusaka upgrade on ETH's economic model
Culper Research is shorting Ethereum (ETH) and related stocks, believing that the Fusaka upgrade could weaken the tokenomics model, leading to a sharp drop in transaction fees and an increase in low-value transactions. However, Ethereum Daily rebutted that the decline in fees and the growth of active addresses will benefit network development, and investors should pay attention to on-chain dynamics.
GateNews54m ago
Bitcoin's comeback over gold? Economist Lyn Alden predicts that cryptocurrency returns will outperform precious metals over the next three years.
Macroeconomist Lyn Alden predicts that Bitcoin will outperform gold over the next two to three years due to significant differences in market sentiment towards the two assets. Although billionaire investor Ray Dalio considers Bitcoin risky and views gold as more mature, the correlation between the two is gradually increasing, potentially offering unique opportunities for investors in the future.
GateNews58m ago
The strengthening of the US dollar suppresses Bitcoin's rebound, and Middle East conflicts may trigger a price decline
The tense situation in the Middle East has triggered a strengthening of the US dollar, putting pressure on Bitcoin and high-risk assets. Analysis indicates that the appreciation of the dollar and high inflation may limit capital inflows into the crypto market. Although Bitcoin experienced a brief rebound, it still faces institutional sell-offs and market weakness. Investors should monitor the dollar trend and market dynamics to assess potential risks.
GateNews1h ago
XRP Price Outlook: Can it Break $3 by the End of 2026? Analysts Provide Bullish and Bearish Predictions
XRP is currently priced between $1.41 and $1.46, up about 4% in the past 24 hours but still below its all-time high. Analysts predict that if the market stabilizes, XRP could rebound to $3, while it might drop to $0.65 otherwise. Regulatory factors and the expansion of real-world applications will also influence its long-term trend. Investors should pay attention to market risks.
GateNews1h ago
