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Wormhole crypto drops 34% amid strong spot selling but mixed signals from perpetual market.

Technical Signals
14 Oct 2026
AMBCrypto
View Source
Bearish
Wormhole crypto drops 34% amid strong spot selling but mixed signals from perpetual market.

Wormhole (W) fell 34% in one day as spot market selling intensified, signaling strong short-term bearish momentum. However, the perpetual market showed a mild bullish tilt with a Long/Short Ratio of 1.05 and 51% volume favoring bulls. Despite this, the Funding Rate dropped to -0.0436%, indicating aggressive short positioning, while Open Interest fell 48%, suggesting traders are reducing exposure. The market sentiment remains slightly positive but weakened, leaving Wormhole caught between potential recovery and immediate selling pressure.

Wormhole (W) is trading at Rp291 on Pluang as of Oct 14, 2026 11:11 WIB, down 15.59% in one day, which contrasts with the sharper 34% drop noted in the news. The market cap stands at Rp1.94 trillion with a 24-hour volume of Rp3.23 trillion. Despite the recent sell-off, Pluang order activity shows a stronger buy interest at 66% compared to 34% sell, and typical hold time is relatively long at 56 days, suggesting some investors remain patient amid volatility.

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