Q: Over $BTW 24 hours, open interest fell 21.45% while the price rose 13.01%. What does this indicate?
A: This rally was likely driven mainly by short covering, with no clear sign of new longs following so far. Short covering can only go so far; whether the move continues depends on whether fresh demand comes in.
A: This rally was likely driven mainly by short covering, with no clear sign of new longs following so far. Short covering can only go so far; whether the move continues depends on whether fresh demand comes in.