๐ณ $APR : Open interest is rising while the price is falling. 24-hour open interest: +114.82%; current price: 0.03142.
Worth thinking about: whoโs opening positions during the drop? When price falls and open interest rises, it usually means shorts are adding to their positions. The more new shorts there are and the more crowded the trade gets, the more fuel there is for a squeeze in the opposite direction.
Next, watch which way the funding rate is leaning.
Stay rational; donโt get carried away.
Worth thinking about: whoโs opening positions during the drop? When price falls and open interest rises, it usually means shorts are adding to their positions. The more new shorts there are and the more crowded the trade gets, the more fuel there is for a squeeze in the opposite direction.
Next, watch which way the funding rate is leaning.
Stay rational; donโt get carried away.