The $IRYS contract is showing a combination of falling open interest and rising price (24 hours: OI -42.15% / price +155.57%). Here are a few things to watch next:
1. Does open interest continue to decline?
2. Is funding heavily skewed in one direction?
3. Will new longs step in after the short covering ends?
Total positions on the platform are worth $30.4 million. I’ll share an update once we get an answer to any of these questions.
Just sharing my personal views—not a recommendation to take any action.
1. Does open interest continue to decline?
2. Is funding heavily skewed in one direction?
3. Will new longs step in after the short covering ends?
Total positions on the platform are worth $30.4 million. I’ll share an update once we get an answer to any of these questions.
Just sharing my personal views—not a recommendation to take any action.