btc at 80k, +4.7% today, and this time the crowd is not fighting it. 11 of 16 coins on our stress scanners have positive funding, longs paying shorts to stay in. that's the opposite of the usual setup, people are already positioned WITH the rally, not against it. 59/41 long/short on average, and we're tagging longs overheated on 5 of these names.
only $26.8M came into positions in the last hour, barely 0.4% of the $6.5B open interest on these coins. so this isn't fresh conviction chasing the move, it's the same crowd that was already long.
meanwhile $UNI had $14.1M go ONTO exchanges in the last 24h while price ran green. that's supply that can hit the bid at any point. $CAKE quietly did the opposite, $2.2M walked off exchanges.
crowded long into a rally usually means the squeeze already happened and what's left is people defending green. watching whether that UNI supply gets absorbed or starts leaning on price. NFA
only $26.8M came into positions in the last hour, barely 0.4% of the $6.5B open interest on these coins. so this isn't fresh conviction chasing the move, it's the same crowd that was already long.
meanwhile $UNI had $14.1M go ONTO exchanges in the last 24h while price ran green. that's supply that can hit the bid at any point. $CAKE quietly did the opposite, $2.2M walked off exchanges.
crowded long into a rally usually means the squeeze already happened and what's left is people defending green. watching whether that UNI supply gets absorbed or starts leaning on price. NFA
