U.S. stocks are closed for the weekend, so NVDA’s drop hit Binance perpetuals first.
Binance Research wrote today: Compared with Friday’s U.S. market close, NVDAUSDT fell as much as about 4.2% over the weekend, and Binance’s NVIDIA perpetual had the highest trading volume over the past 24 hours. NVDA closed at 186.64 on Friday; the perpetual is around 176.5 now, down about 6% over 24 hours, with an intraday low of 174.57 and trading volume of about 680 million U.
What’s even more striking is positioning: the price is falling, but long positions in accounts have climbed to around 81%, with a long/short ratio of about 4.2; large traders’ long positions are around 84%. Open interest is still rising.
I’m short-term bearish on $NVDA —the weekend move has already been priced in, while longs keep piling in. I’ll change my mind if the U.S. spot price moves back near Friday’s close and the share of long positions in futures contracts falls noticeably.
#英伟达 #TradFi $NVDA
Binance Research wrote today: Compared with Friday’s U.S. market close, NVDAUSDT fell as much as about 4.2% over the weekend, and Binance’s NVIDIA perpetual had the highest trading volume over the past 24 hours. NVDA closed at 186.64 on Friday; the perpetual is around 176.5 now, down about 6% over 24 hours, with an intraday low of 174.57 and trading volume of about 680 million U.
What’s even more striking is positioning: the price is falling, but long positions in accounts have climbed to around 81%, with a long/short ratio of about 4.2; large traders’ long positions are around 84%. Open interest is still rising.
I’m short-term bearish on $NVDA —the weekend move has already been priced in, while longs keep piling in. I’ll change my mind if the U.S. spot price moves back near Friday’s close and the share of long positions in futures contracts falls noticeably.
#英伟达 #TradFi $NVDA
