$BTC Stress-Testing the Altcoin Rally: Which
Moves Are Real?
Price says "rally". Open interest shows
who's paying for it.
ONDO → Ol at a record 1.07B tokens,
price at its highest since November 2025.
Both climbing together, the cleanest setup
of the day.
2$ZEC→ +7% with Ol +15.9%,
funding ~10% annualized. New money, not
short covering. But it sits on top of ~300%
this quarter. Fresh leverage at that height is
fuel and a fuse at the same time.
LINK → Ol +28%, price +14%. Leverage
growing twice as fast as price. That's
where I'd expect the first long flush if the
market wobbles.
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