On February 6th, news came that amid continued pressure in the crypto market and Bitcoin hovering around $65,000, MYX Finance’s price has moved independently, rising approximately 32% over the past week and significantly outperforming mainstream digital assets. This trend indicates that some funds are shifting from high market cap assets to smaller projects with potential and resilience.
On-chain and technical indicators suggest that MYX’s rise is not accidental. The Chaikin Money Flow (CMF), which measures capital inflows and outflows, has rebounded above the zero line, indicating that buying strength is absorbing selling pressure. Even though market sentiment remains cautious, MYX continues to attract new capital support, providing an important buffer for the price.
However, signals from derivatives are relatively conservative. MYX’s funding rate has turned negative, indicating an increase in short positions in the futures market, and some traders are beginning to question the sustainability of the current rally. The divergence between rising prices and declining funding rates often signals that the market is preparing for a potential correction rather than blindly chasing gains.
From a price structure perspective, MYX is currently fluctuating around $6.40 and holding above the key support level of $5.99. If buying momentum continues, the short-term target will be $6.87, with further resistance at $7.49. Conversely, if the overall market weakens again or bullish momentum diminishes, MYX could fall back to the $5.27 area, retracing some of its gains.
In the current environment, Bitcoin’s volatility remains an important factor influencing market sentiment. Although MYX has limited correlation with the broader market, if macro selling sentiment intensifies again, it could spill over and impact its trend. For investors, closely monitoring capital flows and key support level changes will help determine whether this counter-trend rally can continue.
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
The New York Times reignites the “Satoshi identity mystery”; after Adam Back was targeted, he quickly clarified
Author: Nancy, PANews
Satoshi Nakamoto’s real identity remains the mystery that has continued for 17 years in the crypto world. Guesses surrounding this pseudonym have never stopped—candidates ranging from cryptographers to company founders have come and gone, yet there has always been a lack of decisive evidence.
Recently, The New York Times published a 10,000-plus-word investigation. Based on multiple comparisons drawn from language style, technical paths, and historical context, it ranked Blockstream CEO Adam Back as the strongest candidate for Satoshi Nakamoto. However, this claim was quickly and explicitly denied by Back himself, and the relevant arguments were widely questioned by the industry as difficult to substantiate.
Satoshi Nakamoto identity controversy flares up again; the 10,000-plus-word investigation targets Adam Back
In this investigation, New York Times reporter John Carreyrou spent more than a year deeply sorting through decades of archives and the cypherpunk email mailing lists to
区块客1h ago
Morgan Stanley Bitcoin ETF Drives 3-Fold Impact as 16,000 Advisors Open Path to Multi-Billion Demand
Bitcoin demand is set to expand rapidly as Morgan Stanley deploys its 16,000 advisors and launches a low-cost ETF, driving institutional inflows and strengthening crypto’s position in mainstream portfolios.
Key Takeaways:
Morgan Stanley’s 16,000 advisors unlock major bitcoin demand, driving
Coinpedia5h ago
DWF Labs Co-Founder: The current market is boring, but it hasn’t disappeared—builders or investors still have a lot to do.
DWF Labs co-founder Andrei Grachev said the market is currently in a “boring” phase, with many important activities quietly underway. He advised investors to stay patient and look for a better timing. He emphasized that opportunities still exist in the market—such as holding Bitcoin or participating in altcoins—and urged retail investors to keep learning and remain optimistic.
GateNews6h ago
