$BTC 77876 dollars are still grinding sideways, while $AAVE rose to 139.53 in a day, up 6.97%.
The price is moving up.
But positions are shrinking in the opposite direction, which suggests no fresh money is coming in.
Over 71 full hourly candles, the price climbed steadily from 130.30 to 138.93. Yet over the same period, open interest fell from 415116 contracts to 400987, down 3.40%. The new high didn’t bring in any new positions.
No fresh money came in.
Open interest itself has no directional bias. Honestly, I can’t tell whether this is longs taking profit or shorts throwing in the towel.
Either way is plausible.
The conclusion is the same: there’s no one to carry the rally forward.
A break above 139.63 would confirm the new high. A drop below 133.0 support would mean the short covering is over.
Anyone chasing the highs is essentially buying someone else’s exit ticket.
Wait to see if 133.0 holds. Seriously, don’t add aggressively while there’s divergence.
Are you holding AAVE spot or futures?
Data: https://fapi.binance.com/futures/data/openInterestHist?symbol=AAVEUSDT&period=1h&limit=72
The price is moving up.
But positions are shrinking in the opposite direction, which suggests no fresh money is coming in.
Over 71 full hourly candles, the price climbed steadily from 130.30 to 138.93. Yet over the same period, open interest fell from 415116 contracts to 400987, down 3.40%. The new high didn’t bring in any new positions.
No fresh money came in.
Open interest itself has no directional bias. Honestly, I can’t tell whether this is longs taking profit or shorts throwing in the towel.
Either way is plausible.
The conclusion is the same: there’s no one to carry the rally forward.
A break above 139.63 would confirm the new high. A drop below 133.0 support would mean the short covering is over.
Anyone chasing the highs is essentially buying someone else’s exit ticket.
Wait to see if 133.0 holds. Seriously, don’t add aggressively while there’s divergence.
Are you holding AAVE spot or futures?
Data: https://fapi.binance.com/futures/data/openInterestHist?symbol=AAVEUSDT&period=1h&limit=72
