Looking only at price can make you miss a lot of information. $SXT 15-minute open interest: +13.24%; price: +8.41%. Compare the two:
Open interest up, price up: new longs are entering.
If open interest keeps increasing, watch whether funding rates are also heading toward extremes. Which side do you think will get flushed out first next?
#SXT
Open interest up, price up: new longs are entering.
If open interest keeps increasing, watch whether funding rates are also heading toward extremes. Which side do you think will get flushed out first next?
#SXT