The market drama has a new episode: $RLC 24-hour futures open interest fell 35.16%, while the price rose 14.24%—a clear case of open interest declining as price rises.
Looks like the bears all let go at once. The rope slipped upward, and the price went up with it. At first glance, it looks like the bulls won, but really the other side just let go—exactly how I won at arm wrestling last time.
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Just a market update; make your own trading decisions.