Everyone, $HOT went from 0.0003454 to 0.0004785, and is now at 0.000432, up 21.896% in 24 hours.
The rebound is real.
Today's trading volume was 101.55 million, while open interest was only 5.44 million—notional value differed by more than 18 times. This shows that positions aren't being held overnight at all; it's all intraday turnover.
There's a point of disagreement here.
The pot of contracts is only so big. The money flowing in over a day is 65% more than that. Whoever gets to the pot first gets served; those who arrive later can only lick the spoon.
Open interest in contracts rose 34.41%, while notional value rose 64.46%. The increase in notional value was 1.87 times the increase in contract count.
That extra amount isn't from newly opened positions; the price itself has pushed up the notional value.
Funding rate: -0.157767%. The price is up 20%, yet the rate is still negative. That means shorts haven't been squeezed out; they're still adding positions at this level, and in effect paying longs.
I had to check the funding rate twice before I believed it.
Long account ratio: 51.84%. Top-trader long/short ratio: 1.0764. Is this money here to lift the price, or to catch the falling knife?
It's like unloading goods at a warehouse entrance: truck after truck arrives, unloads, then drives off. Nothing builds up inside the warehouse.
The close six days ago was 0.0005485, yesterday's was 0.0003556, and today's is 0.000432.
Only 40% of the drop has been recovered. The 20-day range percentile is 43.61%, and it's still 38.4% below the 20-day high of 0.000598.
It's stuck right in the middle.
The broader market, $BTC , is up 0.217% over 24 hours, while $ETH is down 0.048%. Liquidity hasn't flowed out at all.
At this level, I'd rather pay less attention and wait for this batch of intraday positions to turn over, and for the funding rate to get back above zero, before considering anything else.
What do you all think?
#HOT #比特币 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
The rebound is real.
Today's trading volume was 101.55 million, while open interest was only 5.44 million—notional value differed by more than 18 times. This shows that positions aren't being held overnight at all; it's all intraday turnover.
There's a point of disagreement here.
The pot of contracts is only so big. The money flowing in over a day is 65% more than that. Whoever gets to the pot first gets served; those who arrive later can only lick the spoon.
Open interest in contracts rose 34.41%, while notional value rose 64.46%. The increase in notional value was 1.87 times the increase in contract count.
That extra amount isn't from newly opened positions; the price itself has pushed up the notional value.
Funding rate: -0.157767%. The price is up 20%, yet the rate is still negative. That means shorts haven't been squeezed out; they're still adding positions at this level, and in effect paying longs.
I had to check the funding rate twice before I believed it.
Long account ratio: 51.84%. Top-trader long/short ratio: 1.0764. Is this money here to lift the price, or to catch the falling knife?
It's like unloading goods at a warehouse entrance: truck after truck arrives, unloads, then drives off. Nothing builds up inside the warehouse.
The close six days ago was 0.0005485, yesterday's was 0.0003556, and today's is 0.000432.
Only 40% of the drop has been recovered. The 20-day range percentile is 43.61%, and it's still 38.4% below the 20-day high of 0.000598.
It's stuck right in the middle.
The broader market, $BTC , is up 0.217% over 24 hours, while $ETH is down 0.048%. Liquidity hasn't flowed out at all.
At this level, I'd rather pay less attention and wait for this batch of intraday positions to turn over, and for the funding rate to get back above zero, before considering anything else.
What do you all think?
#HOT #比特币 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
