The bottom line: TIA open interest fell 2.8% in a day, and all $66,600 in liquidations over 4 hours hit longs. Leverage is coming down, but the bulls have not fully given up yet.
TIA is currently at $0.4685. Its 24-hour change on Binance and OKX is close to flat, with a high of $0.4893 and a low of around $0.458. The price has barely moved, but positions have already started to unwind.
Open interest across the market is $84.45 million. Binance reduced its positions by 4.5% in one day, while OKX increased its positions by 1.05%—the two major exchanges are moving in opposite directions. Binance accounts for 23% of open interest and MEXC for 24%, so funds are not concentrated on a single platform.
Over the past 4 hours, $66,600 in positions were liquidated, all 30 of them longs. Over 24 hours, longs made up 84% of liquidations. Traders chasing the upside have taken repeated hits. Funding rates on Binance and OKX are both around 0.005%; settled every 4 hours, that works out to roughly 11% annualized, so longs are still paying to hold their positions.
$TIA $BTC
Positions are shrinking, but the funding rate is still positive. Would you keep holding your long position?
View in real time: https://www.coinboss.com/currencies/TIA