Big money’s actions are more honest than its words:
$JCT Contract positions increased by 12.16% over 24 hours, while the price fell 37.04%. There’s still $16.63 million in open interest on the market.
With prices falling and open interest rising, the new positions seem tilted toward the short side, possibly adding to downward pressure. But some longs may also be buying more as prices fall. If shorts get too crowded, a rally could trigger a wave of short covering.
#JCT
$JCT Contract positions increased by 12.16% over 24 hours, while the price fell 37.04%. There’s still $16.63 million in open interest on the market.
With prices falling and open interest rising, the new positions seem tilted toward the short side, possibly adding to downward pressure. But some longs may also be buying more as prices fall. If shorts get too crowded, a rally could trigger a wave of short covering.
#JCT
