$PIPPIN
The dealer has at least 15 million long positions, and the current contract position is 68 million, with 80% of retail investors shorting, funding rate -0.2
According to this ratio, the dealer holds at least half of the market's long positions, and currently, the market's position shows that the dealer is neutralizing their long positions, the funding rate has turned positive, and the contract price must at least be halved; the market's long liquidity is insufficient to allow the dealer to exit their long positions smoothly.
The market information indicates that the dealer cannot directly close long positions, either by attracting long positions to pay funding fees through sideways movement at the top, and then the dealer slowly converts long positions into short positions, or by violently pushing the price to liquidate the shorts, generating a large number of buy orders; the dealer takes this opportunity to switch their long positions for short positions.
Contracts are a zero-sum game; the dealer does not need price increases or decreases; they only need liquidity, as only retail investors pursue price fluctuations.
The dealer has at least 15 million long positions, and the current contract position is 68 million, with 80% of retail investors shorting, funding rate -0.2
According to this ratio, the dealer holds at least half of the market's long positions, and currently, the market's position shows that the dealer is neutralizing their long positions, the funding rate has turned positive, and the contract price must at least be halved; the market's long liquidity is insufficient to allow the dealer to exit their long positions smoothly.
The market information indicates that the dealer cannot directly close long positions, either by attracting long positions to pay funding fees through sideways movement at the top, and then the dealer slowly converts long positions into short positions, or by violently pushing the price to liquidate the shorts, generating a large number of buy orders; the dealer takes this opportunity to switch their long positions for short positions.
Contracts are a zero-sum game; the dealer does not need price increases or decreases; they only need liquidity, as only retail investors pursue price fluctuations.
