$STRK's setup changed again in two hours. Price is now up 31.7%, open interest has more than doubled to $68.2M (+105%), and average funding flipped negative to -0.0079%.
That flip matters. The rally is no longer just attracting longs; shorts are still paying to hold against it. That can extend the squeeze if price stays firm.
But leverage has doubled in one day. If momentum breaks, the unwind can be violent.
The next test is simple: price holds while funding remains negative, and squeeze pressure survives. Price stalls as OI stays elevated, and the rally becomes fragile.
This is a positioning battle now, not a clean breakout.
That flip matters. The rally is no longer just attracting longs; shorts are still paying to hold against it. That can extend the squeeze if price stays firm.
But leverage has doubled in one day. If momentum breaks, the unwind can be violent.
The next test is simple: price holds while funding remains negative, and squeeze pressure survives. Price stalls as OI stays elevated, and the rally becomes fragile.
This is a positioning battle now, not a clean breakout.
