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$STG This wave isn't just a simple pump, it's the shorts paying to help the longs push the price higher.
The previous signal was already quite strange.
The price started to rise continuously, but the funding rate remained negative for two consecutive periods, with shorts paying every 8 hours and still holding on.
Now the results are in: a 63.94% increase over 24 hours, reaching a high of 0.439, with a low still at 0.256.
More importantly, the open interest hasn't decreased; instead, it has surged.
OI increased by 125.2% in 24 hours, and from the order book language, it means new positions are still being added.
Trading volume hit $254 million, but the open interest is only $22.3 million, a ratio that easily amplifies volatility.
The long-short structure is also unusual.
The overall market long-short ratio is only 0.67, with longs accounting for 40%, indicating not everyone dares to chase.
But the buy order direction is 1.12, with active buy orders still pushing down the sell orders.
Price rising, negative funding rate, explosive OI—these three together suggest a typical short squeeze.
The current audit conclusion is very simple.
The previous signal has already been fulfilled, but the signal hasn't completely disappeared.
As long as shorts keep paying, and OI continues to pile up, $STG this order book hasn't returned to normal.
Do you think this structure is mid-stage short squeeze, or the final fireworks?
$STG $BTC #Contract Anomaly
Assisted by Claude Opus 4.8 to organize contract data, for informational reference only, please verify independently.