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Velvet plunges 75% in a week amid heavy selling, but spot buyers see a buying opportunity.

Market News
08 Jul 2026
AMBCrypto
View Source
Neutral
pluang ai news

Velvet's price has fallen sharply by 75% over the past week, with an additional 16% drop in the last 24 hours due to intensified selling pressure. Despite this, traders in both spot and perpetual markets are holding net long positions, suggesting some confidence in a future rebound. Spot investors have bought $1.58 million worth of Velvet this week, viewing the decline as a chance to accumulate at a discount. The market faces volatility and capital withdrawal, but ongoing spot buying could support a near-term recovery for Velvet.

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