Technical note | $MAGIC | 1-hour open interest +8.2% | Price -2.23%
Definition: Contract open interest reflects combined speculative and hedging demand. Some positions are simply used to hedge spot exposure.
How to read it: Open interest baselines vary greatly across coins. For small-cap coins, large changes over an hour or two are not unusual; the same magnitude of change is much less common for top coins.
The same data can mean very different things in different market conditions, so don’t apply a single rule mechanically.
#MAGIC
Definition: Contract open interest reflects combined speculative and hedging demand. Some positions are simply used to hedge spot exposure.
How to read it: Open interest baselines vary greatly across coins. For small-cap coins, large changes over an hour or two are not unusual; the same magnitude of change is much less common for top coins.
The same data can mean very different things in different market conditions, so don’t apply a single rule mechanically.
#MAGIC