Over the past hour, $GTC hit a high of 0.2253 and a low of 0.2217, for a range of 1.61%. It’s now at 0.2241, stuck in the middle.
It’s up 3.90% over 24 hours, while open interest has dropped 2.7% in nearly 4 hours. Open interest is falling as the price rises, which suggests the buying is coming from shorts closing their positions, not fresh money coming in. Short covering is buying in itself, so this kind of rally is fast but fragile.
The volume ratio is 0.27. Volume is shrinking, but open interest is still moving (-2.7%). It’s as if nobody’s paying attention to the price, while positions are still stuck in the market.
That’s basically it.
The funding rate is negative (-0.1780%), so shorts are still paying. Paying even as the price rises—that’s a double cost. Most of their stop-losses are set between 0.2131 and 0.2414. At 0.2241, the price is already in the upper half of that range.
Personal notes, not investment advice.
Are you on the side squeezing others today, or the side getting squeezed?
It’s up 3.90% over 24 hours, while open interest has dropped 2.7% in nearly 4 hours. Open interest is falling as the price rises, which suggests the buying is coming from shorts closing their positions, not fresh money coming in. Short covering is buying in itself, so this kind of rally is fast but fragile.
The volume ratio is 0.27. Volume is shrinking, but open interest is still moving (-2.7%). It’s as if nobody’s paying attention to the price, while positions are still stuck in the market.
That’s basically it.
The funding rate is negative (-0.1780%), so shorts are still paying. Paying even as the price rises—that’s a double cost. Most of their stop-losses are set between 0.2131 and 0.2414. At 0.2241, the price is already in the upper half of that range.
Personal notes, not investment advice.
Are you on the side squeezing others today, or the side getting squeezed?