No beating around the bush: while reviewing contract data today, I found $MAGIC : 15-minute open interest +5.18%, now $21.26 million.
The price is also rising in sync (+2.01%), which looks like new longs are adding positions. I usually then check the funding rate; if it isn’t overheated, this move is relatively healthy.
How would you interpret this?
#MAGIC
In a highly volatile market, risk management comes first.
The price is also rising in sync (+2.01%), which looks like new longs are adding positions. I usually then check the funding rate; if it isn’t overheated, this move is relatively healthy.
How would you interpret this?
#MAGIC
In a highly volatile market, risk management comes first.