Up nearly 50% in a single day, yet the most crowded trade on the market is still going short.
Open interest in futures surged from $27 million to $42 million in just 7 hours, a massive 53% jump, but 55% of accounts are still placing short orders against the trend. Even more absurdly, the funding rate is only 0.0015% every 8 hours, so longs are barely paying anything in leverage costs.
Futures trading volume is already 8.7 times spot volume. This isn’t retail traders getting carried away chasing the rally—shorts are lining up to hand longs more fuel.
Until this mountain of short positions gets completely blown out, trying to call the top is just adding fuel to a short squeeze. Either hold your position with the trend or stay out and watch—just don’t be the counterparty.
#以太坊突破2500USDT #STRK $STRK
#MAGIC $MAGIC
👇
Open interest in futures surged from $27 million to $42 million in just 7 hours, a massive 53% jump, but 55% of accounts are still placing short orders against the trend. Even more absurdly, the funding rate is only 0.0015% every 8 hours, so longs are barely paying anything in leverage costs.
Futures trading volume is already 8.7 times spot volume. This isn’t retail traders getting carried away chasing the rally—shorts are lining up to hand longs more fuel.
Until this mountain of short positions gets completely blown out, trying to call the top is just adding fuel to a short squeeze. Either hold your position with the trend or stay out and watch—just don’t be the counterparty.
#以太坊突破2500USDT #STRK $STRK
#MAGIC $MAGIC
👇