Perpetual market anomaly | $OGN 30d is up 101%, but has already pulled back 25% over 7d and dropped another 6% in 24h. Open interest of 7.1M USDT remains. The funding rate is -0.05%, with shorts pushing the price down.
Here’s the concern: it had already doubled over 30d before making the candidate list, which looks more like “one last shakeout before the whales distribute” than an “early accumulation phase.” Open interest of 7.1M USDT isn’t particularly high, so beware of chasing the rally and getting stuck holding the bag.
#PerpetualContracts
Here’s the concern: it had already doubled over 30d before making the candidate list, which looks more like “one last shakeout before the whales distribute” than an “early accumulation phase.” Open interest of 7.1M USDT isn’t particularly high, so beware of chasing the rally and getting stuck holding the bag.
#PerpetualContracts