Price down, open interest down. I read this move in $TIA as longs pulling out, not new shorts piling in. Binance perpetuals’ 1-hour open interest fell 11.9%, and the 4-hour cumulative decline was 15.9%, leaving open interest worth about $31.55 million. The current price is 0.6648, down 4.35% over 24 hours—not a particularly steep drop, while open interest has fallen faster. When price falls and open interest shrinks along with it, it usually means existing longs are exiting, not that capital is taking a fresh directional bet. This is the open-interest trend I’m watching: if open interest keeps shrinking and price can’t reclaim its footing, the short-term rebound potential will be weaker; if open interest stabilizes first, this round of exits may finally be over.
#合约持仓 #持仓变化