Bottom line: BNB open interest has fallen to $1.01 billion. Leverage is unwinding, but shorts haven't gained the upper hand.
Open interest fell 0.99% over 24 hours. Binance open interest dropped 0.81%, while OKX's rose 2.65%—suggesting capital is shifting between the two exchanges.
Funding rates have diverged: Binance is near zero, while OKX is negative. A negative rate means shorts pay longs, so OKX shorts are still paying a cost.
BNB liquidations totaled $403,000 over 24 hours, with shorts accounting for 72%; over 4 hours, liquidations totaled $81,000 and were almost entirely longs. Shorts are getting squeezed on the larger timeframe, while longs are being cleared out on the smaller one—making short-term price action prone to whipsaws.
$BNB
Do you think the next move will squeeze shorts first, or keep liquidating longs?
View in real time: https://www.coinboss.com/currencies/BNB