24h check on the long side. $LYN was at 0.0278, with about 7 in 10 accounts long and longs paying funding.
This morning it dropped 15% in two hours, to 0.0245. Open interest fell from $11.0M to $9.2M in the same window, so part of those longs were pushed out. The crowd is still long (L/S 2.26), so the pressure hasn't fully cleared.
This morning it dropped 15% in two hours, to 0.0245. Open interest fell from $11.0M to $9.2M in the same window, so part of those longs were pushed out. The crowd is still long (L/S 2.26), so the pressure hasn't fully cleared.
