$ZEC 24-hour contract open positions +13.79%, price -10.54%——open interest rising, price falling.
First, the basis: here, open positions are calculated by coin amount, excluding distortions to open position value caused by price changes, so the change reflects real new openings or closures.
As the price declines, new positions are also increasing, which looks more like new short positions being actively driven to push the price lower—and it’s also possible that some longs keep adding as the price drops, compounding the effect. For now, you need to watch out for continued pressure from the shorts; conversely, if shorts become overly crowded, a short squeeze can come very quickly.
Are you bullish or bearish?
#ZEC
For record-keeping and sharing only, not investment advice.
First, the basis: here, open positions are calculated by coin amount, excluding distortions to open position value caused by price changes, so the change reflects real new openings or closures.
As the price declines, new positions are also increasing, which looks more like new short positions being actively driven to push the price lower—and it’s also possible that some longs keep adding as the price drops, compounding the effect. For now, you need to watch out for continued pressure from the shorts; conversely, if shorts become overly crowded, a short squeeze can come very quickly.
Are you bullish or bearish?
#ZEC
For record-keeping and sharing only, not investment advice.