The moves of large orders are often reflected in trading activity:
Open interest in $IRYS contracts fell 42.15% over 24 hours, while the price rose 155.57%. There’s still $30.4 million in open interest on the books.
Open interest is falling while the price is rising: this is more likely driven by short sellers closing their positions and buying back than by new longs entering the market. Watch to see whether open interest starts rising again—that could signal new money stepping in.
#IRYS
Open interest in $IRYS contracts fell 42.15% over 24 hours, while the price rose 155.57%. There’s still $30.4 million in open interest on the books.
Open interest is falling while the price is rising: this is more likely driven by short sellers closing their positions and buying back than by new longs entering the market. Watch to see whether open interest starts rising again—that could signal new money stepping in.
#IRYS