$COW 24-hour futures open interest +131.47%, price +1.18%—open interest rising, price moving sideways.
First, a note on the measurement: open interest here is counted in coins, excluding the impact of price movements on its value, so increases and decreases reflect actual opening or closing of positions.
Positions are increasing, but price hasn't moved in a clear direction. Both long and short positions are growing, perhaps indicating accumulating disagreement. This kind of buildup often ends with increased volatility, but the direction can't be known in advance.
Will the market turn later?
#COW
This view may not be right; please manage your own risk.
First, a note on the measurement: open interest here is counted in coins, excluding the impact of price movements on its value, so increases and decreases reflect actual opening or closing of positions.
Positions are increasing, but price hasn't moved in a clear direction. Both long and short positions are growing, perhaps indicating accumulating disagreement. This kind of buildup often ends with increased volatility, but the direction can't be known in advance.
Will the market turn later?
#COW
This view may not be right; please manage your own risk.
