$INIT This order book is pretty interesting: up 39% in a day, and open interest is up 36%. Funding is still negative. Shorts are paying to hold their positions, so every time the price gets pushed up, they have to cover. The buying pressure itself isn’t that fierce.
Put simply, this looks more like a short squeeze than fresh money rushing in.
The current price is 0.2231, just a step away from the previous high of 0.2259, and volume is 3.9 times the usual level. If the market makers really wanted to push it up, they’d have broken through that gap already. The fact that it’s inching along makes me wary of a false breakout.
Seed tag: things can move fast in either direction, so don’t get carried away. My recent $BTC bets haven’t gone either way. I won’t get greedy today—I’ll just bet on the nearer level: before this time tomorrow, 0.2259 will be hit before 0.1815. If you’re betting the other way, leave your name.
#INIT #种子标签 #FuturesMarketMove
Put simply, this looks more like a short squeeze than fresh money rushing in.
The current price is 0.2231, just a step away from the previous high of 0.2259, and volume is 3.9 times the usual level. If the market makers really wanted to push it up, they’d have broken through that gap already. The fact that it’s inching along makes me wary of a false breakout.
Seed tag: things can move fast in either direction, so don’t get carried away. My recent $BTC bets haven’t gone either way. I won’t get greedy today—I’ll just bet on the nearer level: before this time tomorrow, 0.2259 will be hit before 0.1815. If you’re betting the other way, leave your name.
#INIT #种子标签 #FuturesMarketMove
