Bitcoin’s $120K resistance triggers early sell signals
- Artificial Superintelligence Alliance recorded massive gains in the past 24 hours as the available supply on exchanges dropped.
- Large investors have continued selling the asset despite its recent market performance.
In the past 24 hours, Artificial Superintelligence Alliance [FET] attracted significant interest from market participants, posting a 13% gain. Its weekly growth was pushed to an impressive 33%.
AMBCrypto found that this rally defies certain market segments—especially whales holding large amounts of FET. However, other traders have pushed back.
Here’s how the market remains strong despite heavy selling.
Large holders sell, spot interest returns, supply drops
The market dynamics shifted notably in the same 24-hour period. As FET rallied, large investors began reducing their exposure. This group sold 17.3 million FET worth $11.88 million at a market price of $0.687.
In addition, Coinglass reported that Spot traders sold $2.6 million worth of FET, bringing total sales to $14.48 million.
Source: IntoTheBlock
Normally, such a wave would rattle the market. Yet, the price held firm.
Supply shrinks, counteracting sell-offs
Surprisingly, the market resisted the expected downturn caused by this wave of selling from large holders. AMBCrypto’s analysis found that the rally was supported by a sharp drop in FET’s supply.
At the time of writing, the AI token’s Circulating Supply had declined by 10 million tokens, roughly $6.87 million.
According to IntoTheBlock, this reflects the Number of Tokens removed from the open market.
Source: IntoTheBlock
In fact, this acted like a buffer.
Spot market participants re-entered with renewed conviction, scooping up $845,950 worth of FET during the same period.
If this trend holds—supply shrinking and retail interest growing—the AI token may continue to weather whale exits.
FET’s Market volume sees rapid growth
The AI token’s current bullish move has been fueled by growing market momentum as volume has increased.
Its trading volume surged by 122.06% in the past 24 hours, reaching $379.07 million. Historically, when price growth aligns with a volume increase, it indicates a strong trend.
Based on this, FET is likely to continue its upward trajectory unless price or volume weakens. Additionally, a slowdown in whale sell-offs would further support the asset growth.
