Based on 528btc, Fetch.ai's FET token rose 11% in the past 24 hours, showing strong bullish momentum. However, liquidity clustering above the current price indicates potential downside risks, as large sell orders could trigger a sharp price drop. Market sentiment remains mixed, with retail investors reducing exposure and on-chain data showing a decline in FET's total open interest from $24.1 million on October 6 to $1.22 million on December 8. Despite this, derivatives markets remain bullish, with open interest rising nearly 10% and funding rates favoring long positions.
FET Rises 11% Amid Bullish Momentum, But Downside Risks Emerge
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