I'm bullish on $HOT . More people are taking the other side during this rally.
The price is up 20.44% over 24 hours, while open interest in 24-hour futures is up 42.75% over the same period.
Open interest is rising faster than the price, which means leverage is driving this move—not pure spot buying.
The key question is who's adding positions.
The long/short ratio by account count has fallen from 1.69 24 hours ago to 1.28 now.
The next estimated funding rate is -0.0380%, meaning shorts are paying longs.
My read is that a significant share of the new positions are shorts, likely traders trying to call a top against the trend.
If the price doesn't turn back, those shorts become fuel for a move higher.
My plan: if $HOT closes above 0.000596, I think short covering will push the price higher for another leg.
If it falls below 0.000433, my bullish thesis is invalidated—I was wrong.
Will shorts keep adding positions from here? Do you think yes or no?
The price is up 20.44% over 24 hours, while open interest in 24-hour futures is up 42.75% over the same period.
Open interest is rising faster than the price, which means leverage is driving this move—not pure spot buying.
The key question is who's adding positions.
The long/short ratio by account count has fallen from 1.69 24 hours ago to 1.28 now.
The next estimated funding rate is -0.0380%, meaning shorts are paying longs.
My read is that a significant share of the new positions are shorts, likely traders trying to call a top against the trend.
If the price doesn't turn back, those shorts become fuel for a move higher.
My plan: if $HOT closes above 0.000596, I think short covering will push the price higher for another leg.
If it falls below 0.000433, my bullish thesis is invalidated—I was wrong.
Will shorts keep adding positions from here? Do you think yes or no?
