$CKB 24-hour futures open interest +18.89%, price -5.3%—open interest is rising while the price is falling.
First, a note on the methodology: open interest here is measured in coin units, excluding the effect of price fluctuations on the value of open interest. So the change reflects actual opening or closing of positions.
As the price falls, new positions are being opened. This likely means new short positions are actively pushing the price down, though it’s also possible that some bulls are buying more as the price falls. In the short term, watch out for continued pressure from bears; conversely, if short positions become too crowded, a short squeeze could happen very quickly.
Do you think this is the beginning or the end?
#CKB
First, a note on the methodology: open interest here is measured in coin units, excluding the effect of price fluctuations on the value of open interest. So the change reflects actual opening or closing of positions.
As the price falls, new positions are being opened. This likely means new short positions are actively pushing the price down, though it’s also possible that some bulls are buying more as the price falls. In the short term, watch out for continued pressure from bears; conversely, if short positions become too crowded, a short squeeze could happen very quickly.
Do you think this is the beginning or the end?
#CKB