$NOK rose 3.448% over the past 24 hours, with the price reaching 11.10. The rise comes alongside an increase in open interest (OI) of 743,380, but the funding rate remains at 0.
This suggests that the upward move is not driven by long-side chasing. A zero funding rate indicates that the costs of long and short positions are balanced, so changes in open interest are the key thing to watch. The current structure looks more like short positions closing or light long positions testing the waters, lacking the typical signals of a one-sided squeeze.
If, during this mild uptrend, OI does not expand significantly, then there isn’t enough momentum.
Trading tag: #TradFi #链上美股 #NOK
Where do you think this analysis is most likely to be wrong?
This suggests that the upward move is not driven by long-side chasing. A zero funding rate indicates that the costs of long and short positions are balanced, so changes in open interest are the key thing to watch. The current structure looks more like short positions closing or light long positions testing the waters, lacking the typical signals of a one-sided squeeze.
If, during this mild uptrend, OI does not expand significantly, then there isn’t enough momentum.
Trading tag: #TradFi #链上美股 #NOK
Where do you think this analysis is most likely to be wrong?