Do you know what's happening in the $SOL futures market right now? 🤔
Here is the Open Interest (OI) data:
· Trend: Open interest has dropped significantly over the past few days (lines pointing downwards).
· 1Y Percentile: Currently at 61%. This means there is still some liquidity compared to the past year, but the recent drop is clear.
· Price: Along with OI, the price (black line) has also fallen from the 90-100 range down to the 80 level.
What does this mean?
When both OI and price drop together, it means leverage positions are closing and money is leaving the market. Traders don't want to take on new risk right now, putting pressure on the price.
What's your view on this data? Is the path down for SOL? 👇
#sol #BTC #HuangRisksOusterOverReportedAffairWithSubordinate #AnthropicRejectsIPODelayValuationinQuestion
Here is the Open Interest (OI) data:
· Trend: Open interest has dropped significantly over the past few days (lines pointing downwards).
· 1Y Percentile: Currently at 61%. This means there is still some liquidity compared to the past year, but the recent drop is clear.
· Price: Along with OI, the price (black line) has also fallen from the 90-100 range down to the 80 level.
What does this mean?
When both OI and price drop together, it means leverage positions are closing and money is leaving the market. Traders don't want to take on new risk right now, putting pressure on the price.
What's your view on this data? Is the path down for SOL? 👇
#sol #BTC #HuangRisksOusterOverReportedAffairWithSubordinate #AnthropicRejectsIPODelayValuationinQuestion
