Just took a quick look at the data—there’s something here.
$SUI ’s open interest rose by 0.32%. Sure enough, the recent push up over the past two days wasn’t something retail traders could pull off—someone on the futures side has been adding more longs. SOL is even stronger: open interest increased by 0.43%. Last week I said it was due to rebound. I got trapped for two days, but today I fully got out at a profit. This script is way too accurate.
On the flip side, XRP’s open interest is down -0.32%, while the price is falling too, and open interest is shrinking as well. That indicates the shorts aren’t really making money—they’re closing positions and bailing.
To sum it up: SOL and SUI are new longs entering the market. This round of shorts on XRP has basically been buried.
This kind of positioning structure usually suggests that market sentiment is warming up, and big capital is willing to use derivatives with leverage to go long. But be careful: if the spot price can’t keep up, the long side in the contracts could get counter-killed.
Last night I went long on SOL, with my stop loss set at 175. Do you think this move can reach 200?
#Write2Earn #Crypto
⚠️ Personal opinion only, not investment advice.
$SUI ’s open interest rose by 0.32%. Sure enough, the recent push up over the past two days wasn’t something retail traders could pull off—someone on the futures side has been adding more longs. SOL is even stronger: open interest increased by 0.43%. Last week I said it was due to rebound. I got trapped for two days, but today I fully got out at a profit. This script is way too accurate.
On the flip side, XRP’s open interest is down -0.32%, while the price is falling too, and open interest is shrinking as well. That indicates the shorts aren’t really making money—they’re closing positions and bailing.
To sum it up: SOL and SUI are new longs entering the market. This round of shorts on XRP has basically been buried.
This kind of positioning structure usually suggests that market sentiment is warming up, and big capital is willing to use derivatives with leverage to go long. But be careful: if the spot price can’t keep up, the long side in the contracts could get counter-killed.
Last night I went long on SOL, with my stop loss set at 175. Do you think this move can reach 200?
#Write2Earn #Crypto
⚠️ Personal opinion only, not investment advice.