On the 10th, a wick plunged to 540; today, $XMR climbed steadily back to 584, but futures open interest barely moved. Who’s buying this leg?
The two-hour candles started around 548 last night and closed higher for most of the day. Meanwhile, Bitcoin stayed range-bound between 73,000 and 74,000, while Ethereum fell nearly 2%.
▪️ Open interest (coins): 88,400 → 88,400, basically unchanged
▪️ Funding rate: stayed at the 0.01% baseline
▪️ Long/short account ratio: 1.36 → 0.99
Price up, open interest flat, funding unchanged—and there are actually more shorts by account count. It doesn’t look like leverage is driving the move. We’re still 10% below the 648 level from November 4. I’ll be watching to see whether 580 holds through tomorrow.
#Monero #PrivacyCoin
The two-hour candles started around 548 last night and closed higher for most of the day. Meanwhile, Bitcoin stayed range-bound between 73,000 and 74,000, while Ethereum fell nearly 2%.
▪️ Open interest (coins): 88,400 → 88,400, basically unchanged
▪️ Funding rate: stayed at the 0.01% baseline
▪️ Long/short account ratio: 1.36 → 0.99
Price up, open interest flat, funding unchanged—and there are actually more shorts by account count. It doesn’t look like leverage is driving the move. We’re still 10% below the 648 level from November 4. I’ll be watching to see whether 580 holds through tomorrow.
#Monero #PrivacyCoin