Binance family, look at $BTC perpetual open interest from 11:05 to 13:30 today.
The yellow bars jumped near 11:40. Then they started shrinking. Notional value slipped from about 8.58 billion toward 8.55 billion.
That spike was fresh positions opening. The fade after it was positions closing.
Price is sitting near 79.6k after yesterday’s drop from the 82k area. Longs already took the hit. Funding is quiet. Binance positioning is a little short-heavy.
When open interest falls while price chops, risk is leaving the market. Less fuel for a squeeze. Also less chance of a sudden flush if your size stays clean.
Do not read OI alone. Rising OI with rising price means new longs. Falling OI after a dump means traders closed and stepped aside.
Wait for the next expansion. Protect capital until it shows.
Are you holding 79k as support, or waiting for one more sweep?
$BULLA $ETH
#ZECHitsANewAllTimeHigh #LululemonTumbles20%OnWeakGuidance #USAugustJobGrowthNearlyTriplesForecast #BitcoinETFsBiggestDailyInflowSinceJanuary
The yellow bars jumped near 11:40. Then they started shrinking. Notional value slipped from about 8.58 billion toward 8.55 billion.
That spike was fresh positions opening. The fade after it was positions closing.
Price is sitting near 79.6k after yesterday’s drop from the 82k area. Longs already took the hit. Funding is quiet. Binance positioning is a little short-heavy.
When open interest falls while price chops, risk is leaving the market. Less fuel for a squeeze. Also less chance of a sudden flush if your size stays clean.
Do not read OI alone. Rising OI with rising price means new longs. Falling OI after a dump means traders closed and stepped aside.
Wait for the next expansion. Protect capital until it shows.
Are you holding 79k as support, or waiting for one more sweep?
$BULLA $ETH
#ZECHitsANewAllTimeHigh #LululemonTumbles20%OnWeakGuidance #USAugustJobGrowthNearlyTriplesForecast #BitcoinETFsBiggestDailyInflowSinceJanuary
