$ETH is down 5.7% today. Open interest in ETH terms went up.
Over 48 hours on Binance ETHUSDT perps, OI rose from ~2.30M to ~2.34M ETH while its dollar value fell from ~$4.74B to ~$4.53B. Traders didn't close into the drop. Some added.
What I'm watching:
• 2,000 = the level that just broke
• 1,895.95 = today's low, weakest since 18 Aug
• Funding near zero, not negative yet
Full article: OI, long ratio, taker flow, ETF outflows, the EF-linked wallet and ETH/BTC:
https://www.binance.com/en/square/post/387757958321491
Not financial advice.
#Ethereum #ETH #CryptoMarket
Over 48 hours on Binance ETHUSDT perps, OI rose from ~2.30M to ~2.34M ETH while its dollar value fell from ~$4.74B to ~$4.53B. Traders didn't close into the drop. Some added.
What I'm watching:
• 2,000 = the level that just broke
• 1,895.95 = today's low, weakest since 18 Aug
• Funding near zero, not negative yet
Full article: OI, long ratio, taker flow, ETF outflows, the EF-linked wallet and ETH/BTC:
https://www.binance.com/en/square/post/387757958321491
Not financial advice.
#Ethereum #ETH #CryptoMarket
