👀 Smart money is watching this:
Open interest in $BTW contracts fell 21.45% over the past 24 hours, while the price rose 13.01%. There’s still $117 million in open interest.
Open interest is falling as the price rises—this is more likely driven by shorts closing and buying back than by new longs entering. Watch to see whether open interest bottoms out and starts rising; that would more likely signal fresh entries.
Open interest in $BTW contracts fell 21.45% over the past 24 hours, while the price rose 13.01%. There’s still $117 million in open interest.
Open interest is falling as the price rises—this is more likely driven by shorts closing and buying back than by new longs entering. Watch to see whether open interest bottoms out and starts rising; that would more likely signal fresh entries.