Notcoin prints 25% pump while 90% of fresh perp bets bet against it 🌀

Notcoin [NOT] rose 25% on the 13th of June, ranking among the top gainers across the crypto market over the past day as weekend liquidity lifted the Telegram-linked token. The move brought renewed attention to NOT, but underlying derivatives data showed the rally was not being reinforced by long positioning.

Perpetual market data pointed to a heavy inflow of capital shaping Notcoin's short-term outlook. Open Interest, which tracks capital committed to perpetual contracts, surged sharply. Positions on Binance and Bybit reached $3.1 million each, while total marketwide Open Interest climbed to $7.8 million. Roughly 90% of that capital arrived in the past 24 hours, but traders did not direct it toward the long side. Instead, they increased bearish exposure and positioned for a move lower.

The Funding Rate reinforced that stance, turning sharply negative to -0.1221% over the past day. As traders continued building short exposure, the reading suggested selling pressure was intensifying, even as Notcoin's price climbed. Google Trends data showed a parallel rise in global search activity, with interest climbing to a reading of 35 between the 12th and 13th of June, a 31% increase. That followed a prior pattern in which search interest rose by 92% between the 4th and 7th of May ahead of an earlier move.

The bullish case drew additional support from Notcoin's move above a key supply zone, with a strong bullish candle in formation. The Accumulation/Distribution Indicator climbed alongside price, signalling that buyers continued accumulating NOT rather than distributing it, while 90% of new perpetual capital over the past day flowed into short positions on Binance and Bybit.