$AGT retail flipped from 62.4% long yesterday to 24.7% today, the lowest reading in 30 days, while top traders are still 59.2% long.
As of 15:25 Kyiv time, Nov 12. The perp trades at 0.0670 USD, up 27% in 24 hours, range 0.0370 to 0.0830. Funding is still positive at 0.035% per four hour print, which is 0.21% a day paid by longs. Open contracts are up 13% in a day, so the book grew while retail cut. Its 30 day retail range is 24.7% to 70.5%, so today is the floor. No spot pair on Binance.
MSCI confirmed last night that Strategy leaves the MSCI USA Large Cap Index, the revised methodology takes effect at the close of Nov 30, and the shares fell 2.4% in extended trading. JPMorgan had put the passive selling near 2.8B USD. $BTC trades at 72,550 on the perp, down 1.8% in 24 hours, yet retail there barely moved, 74.7% long yesterday to 72.6% today, still the 77th percentile of its own 30 days, with open contracts flat at plus 0.1%. A dated forced seller is the easiest thing to prepare for, and positioning says almost nobody did.
I don't know how much of that 2.8B is already sold or hedged, and the flow data does not show it.
Worth doing: read the long short account ratio of anything you hold against its own 30 days, not against 50%.
Do you read positioning against its own range or against 50%?
Top 5 perps by 24h change, as of 15:25 Kyiv:
AGT +27%. Longs pay 0.21% a day. Contracts +13%. Bigger side: shorts on retail, longs on top traders. Two sides, does not resolve.
ERA +18%. Shorts pay 0.79% a day. Contracts +18%. Bigger side: longs. Real move, no crowding.
MAGMA +17%. Longs pay 0.08% a day. Contracts +13%. Bigger side: longs. Real move, no crowding.
ONE +8%. Shorts pay 1.73% a day. Contracts +9%. Bigger side: longs. Two sides, does not resolve.
NIGHT +5%. Shorts pay 0.07% a day. Contracts +17%. Bigger side: longs. Real move, no crowding.
$ERA
#StrategyFaces$2.8BSelloffRiskFromMSCIRemoval #Market_Update
As of 15:25 Kyiv time, Nov 12. The perp trades at 0.0670 USD, up 27% in 24 hours, range 0.0370 to 0.0830. Funding is still positive at 0.035% per four hour print, which is 0.21% a day paid by longs. Open contracts are up 13% in a day, so the book grew while retail cut. Its 30 day retail range is 24.7% to 70.5%, so today is the floor. No spot pair on Binance.
MSCI confirmed last night that Strategy leaves the MSCI USA Large Cap Index, the revised methodology takes effect at the close of Nov 30, and the shares fell 2.4% in extended trading. JPMorgan had put the passive selling near 2.8B USD. $BTC trades at 72,550 on the perp, down 1.8% in 24 hours, yet retail there barely moved, 74.7% long yesterday to 72.6% today, still the 77th percentile of its own 30 days, with open contracts flat at plus 0.1%. A dated forced seller is the easiest thing to prepare for, and positioning says almost nobody did.
I don't know how much of that 2.8B is already sold or hedged, and the flow data does not show it.
Worth doing: read the long short account ratio of anything you hold against its own 30 days, not against 50%.
Do you read positioning against its own range or against 50%?
Top 5 perps by 24h change, as of 15:25 Kyiv:
AGT +27%. Longs pay 0.21% a day. Contracts +13%. Bigger side: shorts on retail, longs on top traders. Two sides, does not resolve.
ERA +18%. Shorts pay 0.79% a day. Contracts +18%. Bigger side: longs. Real move, no crowding.
MAGMA +17%. Longs pay 0.08% a day. Contracts +13%. Bigger side: longs. Real move, no crowding.
ONE +8%. Shorts pay 1.73% a day. Contracts +9%. Bigger side: longs. Two sides, does not resolve.
NIGHT +5%. Shorts pay 0.07% a day. Contracts +17%. Bigger side: longs. Real move, no crowding.
$ERA
#StrategyFaces$2.8BSelloffRiskFromMSCIRemoval #Market_Update