$SOXL 24 hours up 13.285%, open interest surged to 1.2535 million contracts. Looking at these two numbers together, my judgment is that new funds are actively building long positions, not a squeeze of shorts.
Funding rate has returned to zero, which is key. Even after such a strong rise, there is no friction between longs and shorts, suggesting leveraged positions have not reached an overcrowded extreme. The simultaneous rise in open interest means the rally is supported by real positions, not just a drop caused by short covering. There is no comparable benchmark asset, but this pure price-and-volume advance shows that liquidity is concentrated here.
I judge that the market is currently in a strong phase within the trend.
Trading tags: #BinanceFutures #TradFi #USDⓈM #SOXL #SOXLUSDT $SOXL
Funding rate has returned to zero, which is key. Even after such a strong rise, there is no friction between longs and shorts, suggesting leveraged positions have not reached an overcrowded extreme. The simultaneous rise in open interest means the rally is supported by real positions, not just a drop caused by short covering. There is no comparable benchmark asset, but this pure price-and-volume advance shows that liquidity is concentrated here.
I judge that the market is currently in a strong phase within the trend.
Trading tags: #BinanceFutures #TradFi #USDⓈM #SOXL #SOXLUSDT $SOXL