On the second day of the Jensen Huang scandal, $NVDA perpetuals sank to a seven-month low, yet more and more people on Binance are buying the dip.
Let the numbers speak first: Nvidia stock closed at 168.80 (-5.5%) on Tuesday, wiping out over $470 billion in market cap in two days. Volume was 420 million shares, about 3x the average. Binance NVDAUSDT was down 5.9% over 24 hours, hit a low of 166.21, and recovered to 170.8 at 08:00 Beijing time, with about 1.36 billion U in 24-hour volume.
The key is open interest: OI climbed from about 910,000 contracts at 20:00 last night to about 1.58 million now, up 73% in 12 hours. Long accounts make up 90.1%, the long-to-short account ratio is 9.06, and funding rates have risen for three consecutive intervals: 0.016%→0.024%→0.050%.
Price at a new low, OI surging, and 90% of accounts going long—this isn't shorts dumping; it's longs catching a falling knife. The people who thought Monday's 4% drop was a bargain got buried another layer on Tuesday.
12–48h outlook (not guaranteed): If 166–168.8 holds, short covering could first target 175–177 (the point where the price broke down at 22:00 Tuesday). If it breaks below 166 again and OI doesn't fall, these new long positions could become fuel, increasing the odds of a drop to 160–162. The board investigation and FBI developments are the biggest variables; news could reverse at any time ahead of the 11/17 earnings report.
The higher the funding rate, the more crowded the trade. If you're buying the dip, think about your stop-loss before you think about a rebound.
#合约 #币安 #美股 #NVDA #Nvidia
Let the numbers speak first: Nvidia stock closed at 168.80 (-5.5%) on Tuesday, wiping out over $470 billion in market cap in two days. Volume was 420 million shares, about 3x the average. Binance NVDAUSDT was down 5.9% over 24 hours, hit a low of 166.21, and recovered to 170.8 at 08:00 Beijing time, with about 1.36 billion U in 24-hour volume.
The key is open interest: OI climbed from about 910,000 contracts at 20:00 last night to about 1.58 million now, up 73% in 12 hours. Long accounts make up 90.1%, the long-to-short account ratio is 9.06, and funding rates have risen for three consecutive intervals: 0.016%→0.024%→0.050%.
Price at a new low, OI surging, and 90% of accounts going long—this isn't shorts dumping; it's longs catching a falling knife. The people who thought Monday's 4% drop was a bargain got buried another layer on Tuesday.
12–48h outlook (not guaranteed): If 166–168.8 holds, short covering could first target 175–177 (the point where the price broke down at 22:00 Tuesday). If it breaks below 166 again and OI doesn't fall, these new long positions could become fuel, increasing the odds of a drop to 160–162. The board investigation and FBI developments are the biggest variables; news could reverse at any time ahead of the 11/17 earnings report.
The higher the funding rate, the more crowded the trade. If you're buying the dip, think about your stop-loss before you think about a rebound.
#合约 #币安 #美股 #NVDA #Nvidia