$US 24-hour futures open interest +19.83%, price -40.51%—open interest is rising while price is falling.
First, a note on the figures: open interest here is measured in coins, excluding the impact of price fluctuations on its value. So any increase or decrease reflects actual positions being opened or closed.
As new positions are being opened while the price falls, it’s likely that new short positions are actively driving the decline, though some longs may also be adding to their positions as the price drops. In the short term, watch out for continued pressure from bears. But if short positions get too crowded, a sharp rebound could come quickly.
Cast your vote in the comments: up or down?
#US
First, a note on the figures: open interest here is measured in coins, excluding the impact of price fluctuations on its value. So any increase or decrease reflects actual positions being opened or closed.
As new positions are being opened while the price falls, it’s likely that new short positions are actively driving the decline, though some longs may also be adding to their positions as the price drops. In the short term, watch out for continued pressure from bears. But if short positions get too crowded, a sharp rebound could come quickly.
Cast your vote in the comments: up or down?
#US