$FORM rose 36.11%, trading volume was $152 million, open interest was $190 million, up 106.6% over 24 hours, but only up 0.4% over 1 hour—growth in open positions is clearly slowing. The funding rate is positive at 0.005%. Longs have paid for 8 consecutive periods. The large trader long/short ratio is as high as 2.88. The retail long/short ratio is 49%, close to a near 50/50 split. Structurally, large traders are more bullish. The Relative Strength Index is 65.8, slightly neutral; the Super Trend is rising.
If the 1-hour open interest change continues to be flat or turns negative, and meanwhile the longs’ funding rate turns negative as well, it would indicate that longs’ willingness to pay is also declining.
If the 1-hour open interest change continues to be flat or turns negative, and meanwhile the longs’ funding rate turns negative as well, it would indicate that longs’ willingness to pay is also declining.
