$NEAR 𝗹𝗲𝗱 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗲𝗮𝗿𝗹𝗶𝗲𝗿 𝘁𝗼𝗱𝗮𝘆. 𝗡𝗼𝘄 𝗶𝘁'𝘀 𝗱𝗼𝘄𝗻 𝟭𝟳%.
It topped out near $5.53 in the afternoon, then lost $5 as Bitcoin and the rest of the majors rolled over. It now sits around $4.33.
On Binance Futures, open interest dropped from about $282M to $238M in 24 hours, with funding near flat. That looks like longs closing out rather than shorts piling in.
The coins that held up best often attract the most leverage, and that leverage is first to go when the tape turns.
Did NEAR's strength pull you in, or were you waiting for $5 to hold?
NFA.
#NEARProtocol #BinanceFutures
It topped out near $5.53 in the afternoon, then lost $5 as Bitcoin and the rest of the majors rolled over. It now sits around $4.33.
On Binance Futures, open interest dropped from about $282M to $238M in 24 hours, with funding near flat. That looks like longs closing out rather than shorts piling in.
The coins that held up best often attract the most leverage, and that leverage is first to go when the tape turns.
Did NEAR's strength pull you in, or were you waiting for $5 to hold?
NFA.
#NEARProtocol #BinanceFutures