🐳 Position dynamics:
$JCT Contract open interest increased by 19% over 24 hours, while the price fell 11.49%. There is still $12.89 million in open interest in the market.
Price down, open interest up. The new positions seem to be leaning toward the short side, possibly adding pressure in the direction of the trend. But we should also consider that longs may be buying the dip. When too many shorts pile up, a single rally could trigger a wave of short covering.
#JCT
$JCT Contract open interest increased by 19% over 24 hours, while the price fell 11.49%. There is still $12.89 million in open interest in the market.
Price down, open interest up. The new positions seem to be leaning toward the short side, possibly adding pressure in the direction of the trend. But we should also consider that longs may be buying the dip. When too many shorts pile up, a single rally could trigger a wave of short covering.
#JCT