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$MEW dropped 3.23% in 15 minutes on 5.6x normal volume
Signal price: 0.0004964 USDT. Open interest over the same window: +5.54%.
Before this move, price sat at 48% of its 90-day range, and the 30-day amplitude is 49%.
Price fell while open interest grew. Positions are being added into the drop, so disagreement between longs and shorts is rising.
Market at posting (02:18 UTC): last price 0.0004996, 0.64% above the signal price of 0.0004964. 24h change +21.29%, range 0.0004075-0.0005385, turnover about $14.37M.
Perpetual funding rate -0.9265%, next settlement 04:00 UTC. Funding is clearly negative, so shorts are paying longs. Price sits at 70% of the 24h range, mid-range.
What to watch: does selling volume fade, and does price stop making new lows? A decline that continues on lower volume is not a bottom yet.
The signal price is an observed snapshot, not an entry suggestion.
10-21 02:15 UTC
#MEW #EarningsSeason #JPMorganPredictsBitcoinBestPerformingAssetOverNextDecade #InjectiveSignsMoUToMakeKRW1ExclusiveWonSettlementAsset
$MEW dropped 3.23% in 15 minutes on 5.6x normal volume
Signal price: 0.0004964 USDT. Open interest over the same window: +5.54%.
Before this move, price sat at 48% of its 90-day range, and the 30-day amplitude is 49%.
Price fell while open interest grew. Positions are being added into the drop, so disagreement between longs and shorts is rising.
Market at posting (02:18 UTC): last price 0.0004996, 0.64% above the signal price of 0.0004964. 24h change +21.29%, range 0.0004075-0.0005385, turnover about $14.37M.
Perpetual funding rate -0.9265%, next settlement 04:00 UTC. Funding is clearly negative, so shorts are paying longs. Price sits at 70% of the 24h range, mid-range.
What to watch: does selling volume fade, and does price stop making new lows? A decline that continues on lower volume is not a bottom yet.
The signal price is an observed snapshot, not an entry suggestion.
10-21 02:15 UTC
#MEW #EarningsSeason #JPMorganPredictsBitcoinBestPerformingAssetOverNextDecade #InjectiveSignsMoUToMakeKRW1ExclusiveWonSettlementAsset