Futures volume jumped 51 percent while open interest fell, and that combination tells a clear story. đ
CoinDesk reported on 3 November that crypto futures trading volume gained 51 percent in 24 hours to 168.1 billion dollars, while open interest fell 1.63 percent to 134.9 billion dollars. đ„ My reading is that volume up and open interest down together means traders are closing, liquidating and churning positions, not opening fresh confident longs. In a fear 26 market that pattern usually comes before a real direction, not during one, because the weak hands are being shaken out while the patient money waits for a level, 76,303 below or 78,120 above, to break cleanly.
Is the volume spike traders repositioning for the election, or just forced selling clearing out? đ€
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#Crypto #Bitcoin #FuturesTrading #TradingSignals #Derivatives
CoinDesk reported on 3 November that crypto futures trading volume gained 51 percent in 24 hours to 168.1 billion dollars, while open interest fell 1.63 percent to 134.9 billion dollars. đ„ My reading is that volume up and open interest down together means traders are closing, liquidating and churning positions, not opening fresh confident longs. In a fear 26 market that pattern usually comes before a real direction, not during one, because the weak hands are being shaken out while the patient money waits for a level, 76,303 below or 78,120 above, to break cleanly.
Is the volume spike traders repositioning for the election, or just forced selling clearing out? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Derivatives
