SKYAI sheds 36% in a day, traders shrug and keep shuffling the same $43M pile 📉

SKYAI recorded one of its steepest daily declines, losing 36.2% of its value over the last 24 hours, while trading activity continued to climb. Daily trading volume rose 70.85% to $43.16 million despite the heavy sell-off, indicating that participants remained engaged throughout the correction. The token's market capitalization fell to $238.26 million, reflecting the broad decline in valuation. The elevated volume accompanied aggressive selling pressure rather than sustained buying strength, as market participants repositioned while volatility intensified across both spot and derivatives markets. SkyAI (SKYAI) remained under pressure as traders searched for signs of stability.

Derivatives activity weakened sharply after Open Interest (OI) declined by 36.65% to approximately $69.66 million. The reduction pointed to traders rapidly closing leveraged positions during the correction rather than adding fresh exposure. Beyond new bearish bets, the decline reflected widespread liquidations and voluntary position exits across the futures market, while also removing speculative leverage that had previously amplified price swings. The reset left the derivatives market lighter than before the sell-off, though shrinking OI did not trigger an immediate recovery as buyers stayed cautious following the aggressive decline.

Spot flow data showed a positive Exchange Netflow of roughly $340,750 during the latest session. The reading indicated that more SKYAI tokens moved onto exchanges than left them, raising the amount of supply immediately available for trading. Unlike exchange outflows, which often reduce near-term selling pressure, the inflows suggested that holders prepared tokens for potential sales. The relatively modest size of the inflow pointed to cautious positioning rather than large-scale distribution, with participants monitoring price behavior near an important support area.

SKYAI revisited the demand zone around $0.168 after the latest sell-off erased much of its recent recovery. Buyers responded near this region and prevented an immediate breakdown below support, allowing the price to stabilize above the highlighted zone. Even so, the broader technical picture remained fragile, with the MACD staying below the zero line while its histogram continued printing negative bars.