Indicator Notes | $ICNT | 15-minute open interest +4.59% | Price +4.78%
First, the definition: Every open contract has both a long and a short position, so open interest alone cannot distinguish between longs and shorts. Across the entire market, the total number of long positions always equals the total number of short positions.
How to read it: Open interest is best viewed together with price and the funding rate. Changes in open interest alone make it difficult to determine market direction.
All data only summarize past trends; the market could very well move in the opposite direction.
#ICNT
First, the definition: Every open contract has both a long and a short position, so open interest alone cannot distinguish between longs and shorts. Across the entire market, the total number of long positions always equals the total number of short positions.
How to read it: Open interest is best viewed together with price and the funding rate. Changes in open interest alone make it difficult to determine market direction.
All data only summarize past trends; the market could very well move in the opposite direction.
#ICNT