TIA: Spot volume doubles to $59.5M on v9.0.4 rollout as futures CVD stays seller-heavy
Celestia jumped 10.12% to $0.4060 on a 102% volume spike tied to the v9.0.4 upgrade, but derivatives flow tells a more cautious story.
Celestia’s TIA token gained 10.12% over 24 hours, trading near $0.4060, as daily volume jumped 102.19% to $59.5 million. The move coincided with the network’s completion of the v9.0.4 upgrade, finalized at block height 11,771,698 on July 1.
Exchanges briefly halted deposits and withdrawals around the upgrade window without interrupting trading activity, suggesting the volume spike reflected genuine spot demand rather than a mechanical listing disruption. The doubling of turnover alongside the price advance points to fresh spot-market participation rather than a short-lived reaction squeeze.
Derivatives flow diverges from spot strength
On-chain and derivatives data complicate the bullish spot narrative. CryptoQuant’s 90-day Futures Taker Cumulative Volume Delta (CVD) has stayed seller-dominant throughout the rally, meaning executed futures orders have skewed toward sell-side flow even as price climbed.
That TIA has still managed to hold its gains despite this seller-heavy execution pattern implies spot buying is absorbing the sell-side pressure rather than leveraged positioning dictating direction. A rally underpinned by spot demand is generally read as more structurally durable than one built on leverage alone.
Funding data adds another layer. CoinGlass’s OI-Weighted Funding Rate has stayed positive at roughly 0.0057%, meaning long holders are still paying to maintain exposure even as taker flow leans short. The combination — sellers dominating executed orders while longs keep paying funding to stay positioned — signals a market split between short-term execution and directional conviction.
Chart structure: $0.4045 as the pivot
TIA’s price action has built a cup-and-handle formation with a neckline at $0.4045, following a recovery from June lows near $0.30. The handle formed inside a falling channel before price broke above its upper boundary, a structural improvement in the setup.
The RSI has climbed to 56.90, with its moving average at 51.16, indicating building momentum without entering overbought territory. TIA has also held the $0.3551 support level, keeping the broader bullish structure intact.
The $0.4045 neckline remains the level to watch, having repeatedly capped prior advances. A confirmed daily close above it would validate the cup-and-handle pattern and open a path toward $0.5000 as the next resistance target.