Is smart money positioning itself?
$COW Contract positions rose 50.1% in 24 hours, while the price fell 17.21%. There are still $2.87 million in open positions on the exchange.
With prices down and open interest up, the new positions may be tilted more toward the short side, possibly adding downward pressure. But we should also consider that some buyers may be stepping in below. When too many shorts pile up, a single bounce could trigger a cascade of short covering.
#COW
$COW Contract positions rose 50.1% in 24 hours, while the price fell 17.21%. There are still $2.87 million in open positions on the exchange.
With prices down and open interest up, the new positions may be tilted more toward the short side, possibly adding downward pressure. But we should also consider that some buyers may be stepping in below. When too many shorts pile up, a single bounce could trigger a cascade of short covering.
#COW