$PENDLE Now here’s a relatively rare structure: retail accounts are net short, yet large holders still remain net long.
According to Binance derivatives data, global retail accounts’ L/S is only 0.68, with about 40% going long—that means roughly 60% of accounts are short. Over the past 72 hours, there have been 65 hours where L/S fell below 1, with the low dipping to 0.68. In contrast, large holders’ L/S remains at 1.86 (about 65% long), leaving a long–short gap of roughly 1.19.
On the price side, spot is around 2.361; over 7 days it’s about -3.4%. Open interest (OI) over 7 days is -7.3%, and notional is -12.1%. Funding rates are also mixed: in nearly 21 periods, 7 are negative, and 6 are close to the long funding rate cap—so long and short are getting repeatedly twisted against each other.
This “retail net short + large holders net long” is different from what we typically see in most altcoins, where retail crowds tend to pile into longs. If price reclaims and holds above the SMA20 (around 2.33) and retail L/S rises back above 1, short-sellers covering could amplify the upside momentum. But if it loses the 2.28 area again near the 7-day low, and OI continues to shrink, it would suggest that large holders’ long exposure is also starting to loosen.
Will you keep shorting on the retail side, or follow the large holders’ positioning and look for the longs to return?
$PENDLE #合约数据 #多空比 #加密市场
According to Binance derivatives data, global retail accounts’ L/S is only 0.68, with about 40% going long—that means roughly 60% of accounts are short. Over the past 72 hours, there have been 65 hours where L/S fell below 1, with the low dipping to 0.68. In contrast, large holders’ L/S remains at 1.86 (about 65% long), leaving a long–short gap of roughly 1.19.
On the price side, spot is around 2.361; over 7 days it’s about -3.4%. Open interest (OI) over 7 days is -7.3%, and notional is -12.1%. Funding rates are also mixed: in nearly 21 periods, 7 are negative, and 6 are close to the long funding rate cap—so long and short are getting repeatedly twisted against each other.
This “retail net short + large holders net long” is different from what we typically see in most altcoins, where retail crowds tend to pile into longs. If price reclaims and holds above the SMA20 (around 2.33) and retail L/S rises back above 1, short-sellers covering could amplify the upside momentum. But if it loses the 2.28 area again near the 7-day low, and OI continues to shrink, it would suggest that large holders’ long exposure is also starting to loosen.
Will you keep shorting on the retail side, or follow the large holders’ positioning and look for the longs to return?
$PENDLE #合约数据 #多空比 #加密市场
