The latest episode of crypto market drama: $SOL 24-hour futures open interest is up 8.77%, while the price is down 4.74%—a textbook case of rising open interest and falling prices.
Looks like the shorts are pulling the price down while calling in reinforcements, while some longs keep getting more tempted to catch the falling knife. I stood by counting heads, and only after a while realized I was on the sidelines. Somehow, that made me feel more at ease.
Tell us in the comments: What was the first thing you thought when you saw this?
This is not investment advice. Trade at your own risk.
Looks like the shorts are pulling the price down while calling in reinforcements, while some longs keep getting more tempted to catch the falling knife. I stood by counting heads, and only after a while realized I was on the sidelines. Somehow, that made me feel more at ease.
Tell us in the comments: What was the first thing you thought when you saw this?
This is not investment advice. Trade at your own risk.