Traders betting against SKR paid a heavy continuous fee to keep their positions open for ten consecutive minutes, highlighting crowded bearish pressure.
Imagine SKR is trading at around $0.0237. A massive wave of traders wants to bet that the price is going to drop, crowding onto one side of the market all at once.
Across ten straight minutes, the fee charged to keep these downward bets open stayed unusually steep, hovering near negative 0.21 percent every single minute.
When too many traders bet in one direction, the exchange makes them pay a regular fee directly to traders on the opposite side to keep things balanced. Here, sellers were paying buyers.
An isolated spike in fees can happen in a flash. But when sellers are willing to pay these high penalties minute after minute, it shows intense, stubborn conviction to keep betting down.
High seller penalties do not guarantee the price will fall. If buyers push the price up even a little, trapped sellers might rush to close their bets all at once, sparking a sharp rebound.
Do not think SKR is guaranteed to fall because sellers are aggressive. Think of the market as an overcrowded boat leaning heavily to one side, where any sudden wave could cause a violent shift.