Deep Dive
1. Exchange Delisting (Bearish Impact)
Overview: KuCoin delisted the PUSH/BTC trading pair on June 18, 2025, citing compliance with its "Special Treatment Rules." While PUSH remains tradeable via other pairs, the removal eliminated a liquidity channel representing ~8% of its historical volume.
What this means: Delistings often trigger short-term sell-offs as automated trading bots deactivate and holders panic. Reduced liquidity amplifies volatility – PUSH’s 24h volume fell 24.16% to $1.24M, making large trades harder to execute without slippage.
What to look out for: Monitoring PUSH’s order book depth on remaining exchanges like CoinEx and whether new listings emerge to offset lost liquidity.
2. Technical Breakdown (Bearish Impact)
Overview: PUSH broke below its 30-day SMA ($0.0357) and now trades at $0.0304. The MACD histogram (-0.000447) confirms bearish momentum, while the RSI14 (23.39) nears oversold territory but hasn’t triggered a reversal signal.
What this means: Traders often interpret breaks below key moving averages as sell signals. With no immediate support until the June 16 low of $0.03023, the path of least resistance remains downward until RSI resets or volume surges.
3. Altcoin Weakness (Mixed Impact)
Overview: The CMC Altcoin Season Index dropped to 68 (-4.23% weekly), reflecting capital rotation from small caps to Bitcoin. PUSH’s 30-day correlation with ETH weakened to 0.61, showing it’s losing momentum even within smart contract platforms.
What this means: As fear grips the market (CMC Fear & Greed Index: 39), investors favor liquidity over speculative alts. PUSH’s niche in Web3 notifications struggles to attract capital when narratives shift to stablecoins or Bitcoin ETFs.
Conclusion
PUSH’s drop stems from a liquidity shock (KuCoin delisting), bearish chart structure, and sector-wide altcoin outflows. While oversold conditions might invite a bounce, sustained recovery likely requires broader market strength or protocol-specific catalysts like partnerships.
Key watch: Can PUSH hold the $0.030 psychological level, or will another exchange follow KuCoin’s delisting move?