All about SKYAI’s latest rally – What are Binance traders betting on right now?

SkyAI has sustained strong market interest and capital inflows, recently climbing to a new all-time high of $0.85 in early trading. The move represented a 54% price hike on the charts, extending its recent rally.

However, its bullish momentum has not been consistent across all segments of the market. In fact, on Binance, traders in the derivatives market are actively positioning for a reversal, reinforcing a divergence between spot-driven demand and futures sentiment.

Spot demand drives the rally

The latest leg higher in SkyAI’s [$SKYAI] price has been largely fueled by accumulation in the spot market, pointing to sustained investor demand.

For instance – Coinglass Spot Netflow data, which measures the balance between exchange inflows and outflows, indicated that outflows have continued to dominate across the board.

Such a trend typically reflects accumulation, as investors move assets off exchanges into private wallets.

Source: CoinGlass

Over the past 24 hours, spot traders have purchased approximately $11 million worth of $SKYAI. Since 3 May, total inflows have reached about $32 million, closely following the $38 million recorded the previous week.

This consistent buying pattern suggests that investors remain confident in $SKYAI’s longer-term outlook, with many still viewing the asset as undervalued despite its recent gains.

Binance traders and a key divergence

On the contrary, Binance traders in the perpetual futures market have been leaning heavily bearish, as reflected in the positioning data.

At the time of writing, the long-to-short ratio on Binance had dropped to 0.43, indicating that short positions significantly outweighed longs. A reading below 1 signals bearish dominance, with the press time level pointing to intensified selling pressure.

Such a divergence carries weight due to Binance’s outsized influence on $SKYAI’s derivatives activity.

Source: CoinGlass

The exchange currently accounts for roughly $534 million in trading volume, representing roughly 50% of total market volume. It also holds approximately $100 million in Open Interest.

If bearish positioning persists at this scale, it could exert downward pressure on the price.

That said, aggregated data across multiple exchanges still showed a slight bias towards long positions, with funding rates turning positive – Evidence of the broader market not turning fully bearish.

Momentum shows signs of strain

Despite the price rally though, underlying momentum has been weakening lately.

For example – Coinglass data revealed that total trading volume declined by 8.82%, falling to $1.07 billion at the time of writing – A drop of roughly $94.3 million.

A decline in volume alongside rising prices often signals fading momentum and reduced participation, conditions that can precede a price correction. Without renewed inflows, the current uptrend may struggle to sustain itself.

Previous analysis from AMBCrypto had highlighted the risks associated with thinning volume. Hence, in the absence of fresh capital, $SKYAI’s rally remains vulnerable, with the potential for a sharper pullback if bearish pressure intensifies.

Final Summary

$SKYAI’s latest highs have been driven by a sharp surge in demand.

Binance traders appeared to be increasingly betting on a pullback, with volume skewed towards short positions.