BTW is up 28% with BR and REZ moving together, a DeFi sector move, and funding says longs are crowded.
BTW climbed to $0.7125, far outpacing BTC's 0.2% gain, while BR and REZ moved with it in the same DeFi sector. Volume ran 5.8 times its 7 day average, and there is no matching news behind the move.
Open interest is up 23% over the period, which points to new positions opening rather than shorts covering. But funding sits at +0.079% per 8 hours, meaning longs are paying to stay in, a sign the trade is getting crowded. If OI keeps climbing with price, that reads as sustained demand across the sector. If price stalls while funding stays hot, a flush of those crowded longs becomes more likely.
What to watch:
• open interest on BTW, currently +23% over 24h
• funding on BTW, currently +0.079% per 8h and still hot
What would make this wrong: If BTW keeps rising while funding cools toward flat, the crowding read was wrong and this was simply demand absorbing sellers.
Not advice.
More: https://creviacockpit.com/news
Follow for the levels that matter, every day.
$BTW
#TradingPsychology
BTW climbed to $0.7125, far outpacing BTC's 0.2% gain, while BR and REZ moved with it in the same DeFi sector. Volume ran 5.8 times its 7 day average, and there is no matching news behind the move.
Open interest is up 23% over the period, which points to new positions opening rather than shorts covering. But funding sits at +0.079% per 8 hours, meaning longs are paying to stay in, a sign the trade is getting crowded. If OI keeps climbing with price, that reads as sustained demand across the sector. If price stalls while funding stays hot, a flush of those crowded longs becomes more likely.
What to watch:
• open interest on BTW, currently +23% over 24h
• funding on BTW, currently +0.079% per 8h and still hot
What would make this wrong: If BTW keeps rising while funding cools toward flat, the crowding read was wrong and this was simply demand absorbing sellers.
Not advice.
More: https://creviacockpit.com/news
Follow for the levels that matter, every day.
$BTW
#TradingPsychology