$COW Two hours in, open interest has nearly tripled, yet the funding rate has plunged to -0.52%/4h. Are shorts paying longs to do nothing?
Volume started picking up at 21:00, sending the price from 0.117 all the way to 0.1517. It’s now moving sideways around 0.141. The key data point: open interest in futures rose from 1.42 million USDT to 4.24 million USDT. More than half of the new money is betting on a pullback, but the funding rate has gone so negative that shorts have to pay every four hours.
My take: Short-term bullish, but don’t chase the price.
🟢 0.138 is the first support level after this rally. If it holds, there’s a chance of a second push toward 0.1517.
🔴 A break below 0.138 would mean the bulls failed to hold the line, so we could see a move back toward 0.13.
Bitcoin $BTC is still moving sideways around 77,400. This kind of altcoin-specific action depends more on futures positioning. If the shorts can’t hold out, the short covering could come fast.
Do you think COW is squeezing the shorts, or is this the bulls’ last hurrah? Pick a side in the comments 👇
#COW #轧空 #山寨币 #Futures
Volume started picking up at 21:00, sending the price from 0.117 all the way to 0.1517. It’s now moving sideways around 0.141. The key data point: open interest in futures rose from 1.42 million USDT to 4.24 million USDT. More than half of the new money is betting on a pullback, but the funding rate has gone so negative that shorts have to pay every four hours.
My take: Short-term bullish, but don’t chase the price.
🟢 0.138 is the first support level after this rally. If it holds, there’s a chance of a second push toward 0.1517.
🔴 A break below 0.138 would mean the bulls failed to hold the line, so we could see a move back toward 0.13.
Bitcoin $BTC is still moving sideways around 77,400. This kind of altcoin-specific action depends more on futures positioning. If the shorts can’t hold out, the short covering could come fast.
Do you think COW is squeezing the shorts, or is this the bulls’ last hurrah? Pick a side in the comments 👇
#COW #轧空 #山寨币 #Futures
