MET is still up more than 43% over the past 24 hours, but has already started to give back gains in the short term. Public Binance data at 13:36 (UTC+8) shows $MET spot at 0.4514, up 43.48%, and perpetuals at 0.4498, up 43.20%; both markets are still moving in the same direction.
In the previous complete hour, spot and perpetuals fell 3.11% and 2.90%, respectively. Perpetual trading volume was about 26.32 million USDT, up just 7.42% from the prior period. Perpetuals are still up 2.03% over the most recent four complete hours, but spot trading volume over the same period was 13.35% lower than in the preceding four hours. Buying momentum has not kept pace with the 24-hour gain.
👀 Open interest (OI) increased by a cumulative 95.78% over a 30-point window, but fell 1.03% in the most recent hour. The funding indicator stands at -0.2714%, while the latest actual settlement was -0.1413%. The deeply negative funding rate and elevated OI point to a major divergence in costs between longs and shorts, but the decline in OI also suggests that some positions have exited. A negative funding rate alone is not enough to conclude that the price will keep rising.
The current price is 2.49% below the close of the previous complete hour. If price reclaims 0.4779 in the next complete hourly candle, with trading volume and OI expanding in tandem, the strong structure could extend. If it breaks below 0.4491 while OI continues to contract, I would first guard against deleveraging at elevated levels rather than chase the rally.
In the previous complete hour, spot and perpetuals fell 3.11% and 2.90%, respectively. Perpetual trading volume was about 26.32 million USDT, up just 7.42% from the prior period. Perpetuals are still up 2.03% over the most recent four complete hours, but spot trading volume over the same period was 13.35% lower than in the preceding four hours. Buying momentum has not kept pace with the 24-hour gain.
👀 Open interest (OI) increased by a cumulative 95.78% over a 30-point window, but fell 1.03% in the most recent hour. The funding indicator stands at -0.2714%, while the latest actual settlement was -0.1413%. The deeply negative funding rate and elevated OI point to a major divergence in costs between longs and shorts, but the decline in OI also suggests that some positions have exited. A negative funding rate alone is not enough to conclude that the price will keep rising.
The current price is 2.49% below the close of the previous complete hour. If price reclaims 0.4779 in the next complete hourly candle, with trading volume and OI expanding in tandem, the strong structure could extend. If it breaks below 0.4491 while OI continues to contract, I would first guard against deleveraging at elevated levels rather than chase the rally.