$DOT
69% OF ACCOUNTS ARE BETTING ON A RISE, BUT THE MARKET IS SENDING A DIFFERENT SIGNAL.
Polkadot is trading near $0.94 after accumulating a 20.7% decline over the past 30 days. However, one of the most striking data points comes from the futures market.
On OKX, 69.6% of accounts with open DOT positions are maintaining bullish bets. The long/short ratio stands at 2.29, meaning there are more than two long accounts for every short account.
But the funding rate has turned negative. This indicates that perpetual contracts are trading below the spot price and that short positions are paying long positions.
The difference between the two indicators suggests that although more participants are betting on a recovery, bearish positions account for a greater volume of capital.
Another relevant data point is that 81% of the liquidations recorded on November 2 were long positions. In addition, open interest has fallen 13.7% since October 28, to $9.84 million.
For now, DOT remains below $1, and futures positioning reflects a market still weighed down by bearish pressure.
TRADE HERE ๐
#dot #crypto #TradingCommunity #TrendingTopic #news
69% OF ACCOUNTS ARE BETTING ON A RISE, BUT THE MARKET IS SENDING A DIFFERENT SIGNAL.
Polkadot is trading near $0.94 after accumulating a 20.7% decline over the past 30 days. However, one of the most striking data points comes from the futures market.
On OKX, 69.6% of accounts with open DOT positions are maintaining bullish bets. The long/short ratio stands at 2.29, meaning there are more than two long accounts for every short account.
But the funding rate has turned negative. This indicates that perpetual contracts are trading below the spot price and that short positions are paying long positions.
The difference between the two indicators suggests that although more participants are betting on a recovery, bearish positions account for a greater volume of capital.
Another relevant data point is that 81% of the liquidations recorded on November 2 were long positions. In addition, open interest has fallen 13.7% since October 28, to $9.84 million.
For now, DOT remains below $1, and futures positioning reflects a market still weighed down by bearish pressure.
TRADE HERE ๐
#dot #crypto #TradingCommunity #TrendingTopic #news
