$JCT perp did 2.1B in volume today, up 252% with open interest up 265%. funding is sitting at 0.166% so longs are paying up hard to stay in.
the weird part is retail L/S is 0.59. small accounts are mostly short into this, top traders at 1.50 are leaning long. so retail is fading the pump and getting charged nothing for it while longs bleed funding every 8h.
meanwhile $ETH is down 4.6% with OI dropping 8%, people closing not adding.
one of these two sides on $JCT is gonna get squeezed out. my guess is the one paying 0.166%, but retail has been wrong all week. who blinks first?
#JCT #futures
the weird part is retail L/S is 0.59. small accounts are mostly short into this, top traders at 1.50 are leaning long. so retail is fading the pump and getting charged nothing for it while longs bleed funding every 8h.
meanwhile $ETH is down 4.6% with OI dropping 8%, people closing not adding.
one of these two sides on $JCT is gonna get squeezed out. my guess is the one paying 0.166%, but retail has been wrong all week. who blinks first?
#JCT #futures