👀 Smart money is watching this:
$BTW : Open interest in futures contracts fell 17.07% over 24 hours, while the price rose 3.16%. There’s still $73.06 million in open interest.
Open interest is falling while the price is rising—this looks more like short covering driving the price up than new longs rushing in. Watch to see whether open interest starts rising again; that would likely signal new money coming in.
NFA, DYOR.
$BTW : Open interest in futures contracts fell 17.07% over 24 hours, while the price rose 3.16%. There’s still $73.06 million in open interest.
Open interest is falling while the price is rising—this looks more like short covering driving the price up than new longs rushing in. Watch to see whether open interest starts rising again; that would likely signal new money coming in.
NFA, DYOR.