Is big money on the move?
$HYPE : Futures open interest fell 9.68% over 24 hours, while the price rose 3.08%. There’s still $385 million in open interest on the books.
Open interest is falling while the price is rising: this looks more like shorts closing their positions and buying back, pushing the price up, rather than new longs entering. Watch to see if open interest can bottom out and recover—that could be a sign of fresh money coming in.
#HYPE
$HYPE : Futures open interest fell 9.68% over 24 hours, while the price rose 3.08%. There’s still $385 million in open interest on the books.
Open interest is falling while the price is rising: this looks more like shorts closing their positions and buying back, pushing the price up, rather than new longs entering. Watch to see if open interest can bottom out and recover—that could be a sign of fresh money coming in.
#HYPE