Notional open interest is down 6%, but the number of contracts is up 2.56%. $HYPE Current price: 70.04. The money hasn’t left at all this week.
Over 41 four-hour candles, the price fell from 79.096 to 71.700, down 9.35%.
Over the same period, notional value shrank from 398.82 million to 374.91 million, down 6.00%; the number of contracts rose from 5,015,663 to 5,143,877, up 2.56%.
The two measures differ by 8.56 percentage points, entirely due to price.
This is rising open interest on a price decline—not an exit.
Cumulative net aggressive selling totaled 1,524,393 contracts, with the heaviest selling on November 10 at 20:00: net selling of 173,363 contracts.
The money hasn’t actually gone anywhere. The same pool of money is holding more contracts at a lower price, and those traders still don’t seem ready to leave—not a single contract has been closed.
Contract count doesn’t show direction. You can’t tell from the chart whether they’re adding shorts or longs.
Only a sustained move above 73.128 would put the price back at the November 13 closing level. Below 69.419, the next level is 68.468. Keep an eye on 69.419—don’t rush to buy the dip.
$BTC Over the same period, it fell 10.22%, while HYPE fell 0.87 percentage points less.
Did you add to your HYPE position this week, or reduce it?
Source: https://fapi.binance.com/futures/data/openInterestHist?symbol=HYPEUSDT&period=4h
Over 41 four-hour candles, the price fell from 79.096 to 71.700, down 9.35%.
Over the same period, notional value shrank from 398.82 million to 374.91 million, down 6.00%; the number of contracts rose from 5,015,663 to 5,143,877, up 2.56%.
The two measures differ by 8.56 percentage points, entirely due to price.
This is rising open interest on a price decline—not an exit.
Cumulative net aggressive selling totaled 1,524,393 contracts, with the heaviest selling on November 10 at 20:00: net selling of 173,363 contracts.
The money hasn’t actually gone anywhere. The same pool of money is holding more contracts at a lower price, and those traders still don’t seem ready to leave—not a single contract has been closed.
Contract count doesn’t show direction. You can’t tell from the chart whether they’re adding shorts or longs.
Only a sustained move above 73.128 would put the price back at the November 13 closing level. Below 69.419, the next level is 68.468. Keep an eye on 69.419—don’t rush to buy the dip.
$BTC Over the same period, it fell 10.22%, while HYPE fell 0.87 percentage points less.
Did you add to your HYPE position this week, or reduce it?
Source: https://fapi.binance.com/futures/data/openInterestHist?symbol=HYPEUSDT&period=4h
