$G 24-hour contract open interest +74.49%, price -2.17%—open interest rising, price falling.
First, a note on methodology: Open interest here is measured in coin units, excluding the impact of price movements on the value of open interest, so increases or decreases reflect actual opening or closing of positions.
New positions are being opened as prices fall, which looks more like new short positions actively driving the decline, though some longs may also be adding as prices fall. In the short term, beware of continued selling pressure from shorts; but if short positions become too crowded, a short squeeze can happen quickly.
How do you interpret this data?
#G
First, a note on methodology: Open interest here is measured in coin units, excluding the impact of price movements on the value of open interest, so increases or decreases reflect actual opening or closing of positions.
New positions are being opened as prices fall, which looks more like new short positions actively driving the decline, though some longs may also be adding as prices fall. In the short term, beware of continued selling pressure from shorts; but if short positions become too crowded, a short squeeze can happen quickly.
How do you interpret this data?
#G