Quick aside: while checking the contract data just now, I noticed $W ’s 1-hour open interest is up 10.87%, now at $12.35 million.
The price is rising in tandem (+7.64%), which looks like new longs are adding to their positions. I usually keep an eye on the funding rate next—if it’s not overheating, this move looks fairly healthy.
Share your thoughts in the comments 👇

For reference only. Trade at your own risk.