$BTC 68.6k after a 4.4% day, and open interest finally fell: down 3.5% in 24h, 2.2% of it in the last 3 hours.
What I see: at noon OI was still rising into the drop, with 3.46 long accounts per short. Now that ratio is 3.05, and takers sold more than they bought over the last 4h (0.89). On the 1 day liquidation map the biggest short pocket sits at 70.1k and the biggest long pocket at 67.4k, right under today's 67,449 low.
What I think: leverage is leaving, but the crowd is still long. Touch odds within 24h: 67.4k about 46%, 70.1k about 39%, 71.5k about 10%.
What changes my mind: an hourly close back above 70.1k with OI rising again.
For JTO: at 0.308 it has held up better than BTC today, down 1.7%.
Not financial advice. Is the flush done, or is 67.4k next?
#USPPIMissMayEaseBTCPressure #BTC #JTO
What I see: at noon OI was still rising into the drop, with 3.46 long accounts per short. Now that ratio is 3.05, and takers sold more than they bought over the last 4h (0.89). On the 1 day liquidation map the biggest short pocket sits at 70.1k and the biggest long pocket at 67.4k, right under today's 67,449 low.
What I think: leverage is leaving, but the crowd is still long. Touch odds within 24h: 67.4k about 46%, 70.1k about 39%, 71.5k about 10%.
What changes my mind: an hourly close back above 70.1k with OI rising again.
For JTO: at 0.308 it has held up better than BTC today, down 1.7%.
Not financial advice. Is the flush done, or is 67.4k next?
#USPPIMissMayEaseBTCPressure #BTC #JTO
