🌌 ONDO spikes 10% on easing US‑Iran tension, but the rally may be a thin veneer. The token leapt from $0.37 to $0.44, reclaimed the $0.40 support and settled near $0.42, while daily volume collapsed by roughly a third. 🕸️ The price move is underpinned by a surge in open interest (+15%) but a 37% drop in futures volume, signalling traders are building leveraged positions yet staying wary. Spot flow is decidedly negative – net inflows to exchanges jumped 280% and a persistent imbalance has lasted five days, suggesting profit‑taking pressure is still strong. With BTC and ETH hovering in a low‑volatility regime, macro risk appetite is fragile, and ONDO’s RSI at 63 hints at a near‑term overbought edge. ⚡ The decisive factor will be whether leveraged participants can outpace the relentless spot pressure that’s draining liquidity. ⚠️ Personal analysis only. Not financial advice. DYOR. #ONDO #CryptoAnalysis #MarketStructure