ethnotback
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Why does ETH seem resistant to dropping right now?
Looking at total open interest across the network, it has reached nearly $1 trillion for the first time, with a heavy concentration of short positions on ETH. This suggests that in the short term, ETH might not decline — in fact, we could see a push to new highs to trigger liquidations before any correction.
Meanwhile, open interest in altcoin contracts has also hit record levels, signaling a surge in speculative trading. This could lead to sharp short-term volatility in leveraged altcoin markets.
#CPIWatch #BinanceAlphaAlert #ETHNotBack
Looking at total open interest across the network, it has reached nearly $1 trillion for the first time, with a heavy concentration of short positions on ETH. This suggests that in the short term, ETH might not decline — in fact, we could see a push to new highs to trigger liquidations before any correction.
Meanwhile, open interest in altcoin contracts has also hit record levels, signaling a surge in speculative trading. This could lead to sharp short-term volatility in leveraged altcoin markets.
#CPIWatch #BinanceAlphaAlert #ETHNotBack
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