$SAND quiet day on the flow side, $557K off $SAND onto exchanges and that's basically it, so i'm not going to pretend there's a theme in supply.
the real story is crowded positioning without matching conviction. PAXG, ADA, DOGE all sitting 72/28 long while price barely moves on PAXG and DOGE, only ADA has the gain to back the lean.
NMR is the odd one: shorts are paying longs to stay short, funding at -1.06%, and fresh money pulled $1.1M out of positions, 8.8% of its OI. that's a crowd leaning one way while money quietly exits the trade. worth watching if that gap closes.
NFA
the real story is crowded positioning without matching conviction. PAXG, ADA, DOGE all sitting 72/28 long while price barely moves on PAXG and DOGE, only ADA has the gain to back the lean.
NMR is the odd one: shorts are paying longs to stay short, funding at -1.06%, and fresh money pulled $1.1M out of positions, 8.8% of its OI. that's a crowd leaning one way while money quietly exits the trade. worth watching if that gap closes.
NFA