Yesterday I mentioned that the BTC and ETH shorts getting liquidated were more than the longs, but it’s not that the shorts got wiped out; it's just that shorts didn’t even enter the market. They’ll only panic when we see a real dip after the pullback.
Today, BTC dropped by 1.29%, ETH fell by 0.84%, and BNB held up the best, only down 0.59%. Just like I said—this is just the beginning, not the real pullback. The real test is whether BNB can hold the 49% level, around 650.
If we look at the OI data with a store owner’s mindset, it’s quite interesting. BNB's OI/MC is only 1.11%, ETH is at 13.14%, and BTC is at 3.76%. Among these three coins, BNB has the lowest OI, which is ridiculously low. This indicates that there are few shorts and even fewer positions; most are still just holding their spot bags.
My BNB cost is 280, and at 653 I’m still holding tight. My ETH cost is 1550, and at 2058 I’m stuck, but the OI on the ETH contracts has already piled up to 13%, making the long-short battle very intense. BNB is like stocked goods in a store; I bought a piece for 280 and can sell it for 653, leaving room for profit, but I’m hesitant to pile up too much inventory for fear of getting stuck, which is why the OI isn’t increasing. ETH is like a trendy item; many are entering, and there are lots of futures traders, so the OI is high.
In terms of fees, SOL has the lowest at 0.0060%, but its OI/MC is at 11.44%, which is similarly high to ETH. I haven’t built a position in this one yet; I’m just watching for now—inventory is stacked up, so I’m not making any moves.
Right now, the fear and greed index is only at 25, with everyone in fear. Why is BNB holding up the best? Is it really just the Launchpool demand keeping it afloat? I don’t know, but I’ll stick to my guns—no selling BNB until it hits 800.
Today, BTC dropped by 1.29%, ETH fell by 0.84%, and BNB held up the best, only down 0.59%. Just like I said—this is just the beginning, not the real pullback. The real test is whether BNB can hold the 49% level, around 650.
If we look at the OI data with a store owner’s mindset, it’s quite interesting. BNB's OI/MC is only 1.11%, ETH is at 13.14%, and BTC is at 3.76%. Among these three coins, BNB has the lowest OI, which is ridiculously low. This indicates that there are few shorts and even fewer positions; most are still just holding their spot bags.
My BNB cost is 280, and at 653 I’m still holding tight. My ETH cost is 1550, and at 2058 I’m stuck, but the OI on the ETH contracts has already piled up to 13%, making the long-short battle very intense. BNB is like stocked goods in a store; I bought a piece for 280 and can sell it for 653, leaving room for profit, but I’m hesitant to pile up too much inventory for fear of getting stuck, which is why the OI isn’t increasing. ETH is like a trendy item; many are entering, and there are lots of futures traders, so the OI is high.
In terms of fees, SOL has the lowest at 0.0060%, but its OI/MC is at 11.44%, which is similarly high to ETH. I haven’t built a position in this one yet; I’m just watching for now—inventory is stacked up, so I’m not making any moves.
Right now, the fear and greed index is only at 25, with everyone in fear. Why is BNB holding up the best? Is it really just the Launchpool demand keeping it afloat? I don’t know, but I’ll stick to my guns—no selling BNB until it hits 800.