CAP has declined 17% over the past 24 hours, with liquidation data from CoinGlass revealing an asymmetric impact on different trader positions. Long traders have lost approximately $59,400 compared to short traders, who have lost just $395.63 during the same period.
The disparity underscores the selling pressure in the market, with long positions bearing the brunt of the decline. Capital outflows have contributed to CAP's downward movement across both spot and perpetual markets. Perpetual market netflow turned negative at -$2.26 million in the past 24 hours, indicating investors have withdrawn capital from the asset. In the spot market, a positive netflow of $27,700 suggests capital flowing into exchanges, confirming continued selling pressure.
Liquidation Clusters and Price Support
Liquidation heatmap analysis indicates liquidity clusters exist both above and below the current price level. The proximity of lower clusters to the current price suggests the potential for further downside movement. These lower clusters represent buy orders that could act as support zones and catalyst for price recovery if demand returns as CAP moves lower into these levels.
Funding Rate Signals
Despite the capital outflows, the perpetual market funding rate remained positive at 0.0050%, indicating that traders maintain significant long positions within CAP's $27.3 million in perpetual capital. A positive funding rate typically reflects long-dominated positioning, which market analysts have suggested could support a potential market rebound toward $0.12.
