$BEAT contract trading account shows unusual movement; first look at price and open interest to see who is driving the change.
On the 15m timeframe, price is -2.69% and open interest is -2.24%. This currently looks more like “deleveraging and pullback”: this drop does not seem like new short positions being aggressively added, but rather existing positions are being reduced.
Aggressive buying accounts for 50.8%, and buy/sell is close. The long-vs-short participant ratio is 2.61, indicating a bullish tilt. Next, we need to watch whether the funding rate will heat up.
Trades continue to shrink and open interest is still trending down, suggesting risk is still being compressed inside the market.
On the 15m timeframe, price is -2.69% and open interest is -2.24%. This currently looks more like “deleveraging and pullback”: this drop does not seem like new short positions being aggressively added, but rather existing positions are being reduced.
Aggressive buying accounts for 50.8%, and buy/sell is close. The long-vs-short participant ratio is 2.61, indicating a bullish tilt. Next, we need to watch whether the funding rate will heat up.
Trades continue to shrink and open interest is still trending down, suggesting risk is still being compressed inside the market.