Reviewed by Reviewed by Renuka Tahelyani Updated 10:00 EDT October 6, 2026 Share Share Share Back to Top Filecoin [FIL] witnessed a major rally over the past day, gaining roughly 13% at press time
Bullish positioning in the perpetual market supported the outlook, but Spot Netflow showed that sellers remained active. That left investors watching whether buyers could sustain the rally, with potential liquidation pressure below the market
FIL’s latest Spot Netflow readings challenged the accumulation narrative
CoinGlass’s trading-based Spot Netflow tracks buying volume minus selling volume across exchanges. Positive readings indicate net buying, while negative readings indicate net selling
At press time, FIL recorded $31.61 million in Inflow and $31.96 million in Outflow over 24 hours. This left Net Inflow at approximately −$356,810
The $31.96 million represented total Outflow within that period, rather than a separate, earlier withdrawal
Despite FIL’s price gain, selling volume slightly exceeded buying volume across the tracked spot markets. The rally therefore lacked confirmation from positive Spot Netflow. That put the spotlight on perpetual traders, whose positioning leaned more bullish
FIL’s overall Long/Short Ratio stood at 1.0475, placing buyers slightly ahead of sellers. The reading supported a bullish tilt, although its proximity to 1 showed that the advantage remained narrow
In fact, Binance and OKX showed bullish readings across most tracked participant categories. Binance recorded more than $255 million in FIL Trading Volume. Retail traders and Whale Accounts leaned bullish, while the Whale Position ratio reached 2.59. Smart Money Sentiment was also bullish
OKX recorded $130.73 million in FIL Trading Volume. Retail positioning leaned bullish, while Smart Money Sentiment was extremely bullish
However, its whale readings were mixed. The Whale Account ratio stood at 1.08, labeled neutral, while the Whale Position ratio reached a bullish 1.75
Buyers retained an edge, but the overall ratio suggested that bullish control was far from overwhelming
The Liquidation Heatmap highlighted potential liquidation clusters around the $1.05 region, below FIL’s press-time price
If buying momentum weakened, a decline toward those levels could trigger Long Liquidations and add selling pressure
However, those clusters could not establish a high probability of FIL reaching $1.05
For now, perpetual positioning leaned bullish, while negative Spot Netflow offered a reason for caution. Stronger spot buying could give the rally firmer backing; weakening demand could leave leveraged longs exposed
Olayiwola Dolapo is a Crypto Research Analyst at AMBCrypto, driven by a mission to make the digital asset space more transparent and understandable for all. His journey was catalyzed by an early experience in the market that underscored the importance of deep, foundational knowledge—a principle that now guides his professional work
