Conflux hardfork triggers 10% CFX drop – Here’s what went wrong!

Key Points

1. Conflux's v3.0.0 hardfork included eight CIPs aimed at EVM compatibility improvements, bug fixes, and PoS consensus adjustments.

2. CFX price fell over 10% in 24 hours despite 77.78% bullish community sentiment, highlighting a disconnect between expectations and market reaction.

3. Open Interest in CFX derivatives dropped 19%, with $11.79 million exiting the market and $1.7 million in long positions liquidated on Binance.

4. Technical indicators like MACD and Parabolic SAR turned bearish, signaling further downward pressure.

5. Despite the drop, CFX saw five consecutive days of accumulation ($14.23 million moved to private wallets), suggesting potential long-term bullish sentiment.