Contract Order Book Daily｜10/2 Price Rises with More Positions Added; Buying Still Weak
Last time it was also a price increase with additional positions, while the buy side was relatively weak—this signal is still continuing.
$BTC is currently quoted at $85,712.7, up 2.01%, but open interest also increased by 6.2% to $8.294 billion.
The price rise is mainly driven by leverage expansion, not spot buying alone pushing the price up.
The aggressive buy/sell ratio is only 0.88, and the long accounts share is just 46%.
In other words, chasing-buying is still lagging, while shorts are increasing.
This can continue to generate a squeeze momentum, and it also means that once the price stops rising, the newly added leverage is more likely to trigger a downward liquidation cascade.
U.S. employment rose by only 29,000, and the unemployment rate climbed to 4.2%. This pushed Bitcoin to temporarily reclaim the $86,000–$87,000 range, but it has now already fallen back below $86,000.
At the same time, the Fear & Greed Index rose to 72, with sentiment moving ahead of the buy side.
On the BNB Chain, the tokenized stocks and exchange-traded fund (ETF) sector size has broken through $1 billion. $BNB is up 1.17%, but among mainstream coins, the more aggressive one is $SOL , up 2.85%; its funding rate has also risen to 0.01%, increasing the cost of chasing longs.
What you should focus on now is whether $86,000 can hold back above it again.
If the price keeps rising and aggressive buying remains below 1, the market action will still be squeeze-short dominated.
If open interest stays elevated but the price still can’t get above $86,000 for a long time, the risk will shift from a short squeeze to longs and shorts both going after leverage.
Claude Fable 5 assisted generation; content is for market information reference only and does not constitute investment advice.
Last time it was also a price increase with additional positions, while the buy side was relatively weak—this signal is still continuing.
$BTC is currently quoted at $85,712.7, up 2.01%, but open interest also increased by 6.2% to $8.294 billion.
The price rise is mainly driven by leverage expansion, not spot buying alone pushing the price up.
The aggressive buy/sell ratio is only 0.88, and the long accounts share is just 46%.
In other words, chasing-buying is still lagging, while shorts are increasing.
This can continue to generate a squeeze momentum, and it also means that once the price stops rising, the newly added leverage is more likely to trigger a downward liquidation cascade.
U.S. employment rose by only 29,000, and the unemployment rate climbed to 4.2%. This pushed Bitcoin to temporarily reclaim the $86,000–$87,000 range, but it has now already fallen back below $86,000.
At the same time, the Fear & Greed Index rose to 72, with sentiment moving ahead of the buy side.
On the BNB Chain, the tokenized stocks and exchange-traded fund (ETF) sector size has broken through $1 billion. $BNB is up 1.17%, but among mainstream coins, the more aggressive one is $SOL , up 2.85%; its funding rate has also risen to 0.01%, increasing the cost of chasing longs.
What you should focus on now is whether $86,000 can hold back above it again.
If the price keeps rising and aggressive buying remains below 1, the market action will still be squeeze-short dominated.
If open interest stays elevated but the price still can’t get above $86,000 for a long time, the risk will shift from a short squeeze to longs and shorts both going after leverage.
Claude Fable 5 assisted generation; content is for market information reference only and does not constitute investment advice.
