$ETH fell 6.59% in a day, and open interest dropped 8.5%. You’d think the bulls would be running for the exits, but retail long/short ratio is still at 3.88, while the big players are only at 1.89. Retail traders keep buying the dip as prices fall, while the big players are pulling out. That kind of divergence doesn’t look reassuring. $XRP is the same story: open interest fell 10.5% in a day, and the retail long/short ratio is 2.77. $BTC is holding up a bit better, though: open interest is down just 0.9%, and the 0.01% funding rate is perfectly normal. What I really want to know now is when the big players will come back. How long can retail keep catching the falling knife?
#ETH #Futures