Yesterday’s shorts are paying funding today. ONGUSDT shorts are trapped, longs are smiling. This rally is just getting started. Window of opportunity is open! #ONG #ShortSqueeze #CryptoTrading
Посты
CryptoZeno
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$ONG the squeeze peaked at 0.228, now the picture is reversing.
In the last update, funding had dropped to -2.00%, the crowd was short and paying heavily. Price spiked to 0.228 from there, then came back down to where it sits now (0.118).
L/S is now at 1.43, the crowd has flipped long. But funding is still negative at -0.14%, which is a bit inconsistent, negative funding normally means shorts are paying. With the crowd already long, funding staying negative looks like a lag from the prior period, not yet adjusted to the new positioning.
OI is down 11.6% while price is up 11.89%. No fresh money, existing positions closing out or repricing.
Top trader positions at 1.05, nearly level with the crowd's 1.43, no split.
$9.71M liquidated in 24h, almost double the $5.07M from before.
How I read it
The earlier squeeze thesis played out fully and hit its peak. Now the picture shows that mechanism running out of steam: the crowd is long but in a fragile spot, OI is falling, the split is gone.
What I'm watching
Whether funding catches up to the new positioning.
The direction of OI, if it keeps falling, the rally weakens further.
In the last update, funding had dropped to -2.00%, the crowd was short and paying heavily. Price spiked to 0.228 from there, then came back down to where it sits now (0.118).
L/S is now at 1.43, the crowd has flipped long. But funding is still negative at -0.14%, which is a bit inconsistent, negative funding normally means shorts are paying. With the crowd already long, funding staying negative looks like a lag from the prior period, not yet adjusted to the new positioning.
OI is down 11.6% while price is up 11.89%. No fresh money, existing positions closing out or repricing.
Top trader positions at 1.05, nearly level with the crowd's 1.43, no split.
$9.71M liquidated in 24h, almost double the $5.07M from before.
How I read it
The earlier squeeze thesis played out fully and hit its peak. Now the picture shows that mechanism running out of steam: the crowd is long but in a fragile spot, OI is falling, the split is gone.
What I'm watching
Whether funding catches up to the new positioning.
The direction of OI, if it keeps falling, the rally weakens further.
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