Everyone, $HOT is up 21.896% today, and neither the longs nor the shorts are backing down.
As the price rose, open interest increased by 34.41%. The shorts weren't getting squeezed out; new shorts were actively piling in.
The price climbed from 0.0003454 to 0.0004785, filling in the open space above in a single day, while the other side kept adding.
A funding rate of -0.157767% means the shorts are paying the longs every hour. The fact that they're still adding to their positions shows they're betting this rally won't last.
I'm not taking sides at this level.
Long accounts make up 51.84%, and the long/short ratio is 1.0764—almost evenly split, with neither side willing to give way. Trading volume was 101.55 million,
while the notional value of open positions was only 5.44 million. Honestly, with 18x turnover, neither side is here to hold onto tokens.
It's like two people carrying a table: one lifts it up while the other pushes it down. The tabletop doesn't move, but both are straining harder.
Six days ago, the close was 0.0005485; yesterday, it was 0.0003556; today, it's 0.000432.
The price has recovered only 40% of its decline. The 20-day percentile is 43.61%; 0.000598 above is the upper cost boundary for this cycle.
The water level has risen, but the reservoir gates have stayed open.
Volume and price have picked up, but the price level hasn't caught up. The disagreement in this perpetual contract is pinned between two lines.
$BTC is up 0.217%, $ETH is down 0.048%. The broader market hasn't provided a direction, and liquidity hasn't flowed out either. This is its own story.
My approach is to pay less attention and wait for this batch of shorts to either give up or fill their positions. The price level will naturally tell me which side to watch.
What do you all think?
#HOT #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of data, and does not constitute investment advice.
As the price rose, open interest increased by 34.41%. The shorts weren't getting squeezed out; new shorts were actively piling in.
The price climbed from 0.0003454 to 0.0004785, filling in the open space above in a single day, while the other side kept adding.
A funding rate of -0.157767% means the shorts are paying the longs every hour. The fact that they're still adding to their positions shows they're betting this rally won't last.
I'm not taking sides at this level.
Long accounts make up 51.84%, and the long/short ratio is 1.0764—almost evenly split, with neither side willing to give way. Trading volume was 101.55 million,
while the notional value of open positions was only 5.44 million. Honestly, with 18x turnover, neither side is here to hold onto tokens.
It's like two people carrying a table: one lifts it up while the other pushes it down. The tabletop doesn't move, but both are straining harder.
Six days ago, the close was 0.0005485; yesterday, it was 0.0003556; today, it's 0.000432.
The price has recovered only 40% of its decline. The 20-day percentile is 43.61%; 0.000598 above is the upper cost boundary for this cycle.
The water level has risen, but the reservoir gates have stayed open.
Volume and price have picked up, but the price level hasn't caught up. The disagreement in this perpetual contract is pinned between two lines.
$BTC is up 0.217%, $ETH is down 0.048%. The broader market hasn't provided a direction, and liquidity hasn't flowed out either. This is its own story.
My approach is to pay less attention and wait for this batch of shorts to either give up or fill their positions. The price level will naturally tell me which side to watch.
What do you all think?
#HOT #比特币 #Cryptocurrency
The above is a record of my personal trading system and observations of data, and does not constitute investment advice.
