7.7 hours ago, I was watching $CLO, and now it's cooled off: the price is still in the hot list memory, but the position has been withdrawn.

The reason is simple, back during T0 $CLO 24H increase was still 32.29%, the price was at 0.25252, open interest surged to $11.8M, funding rate at 0.09%, clearly a hot money pile.
The action happened very quickly, now the price has fallen back to 0.19435, a 23.04% drop from T0, and the 24H increase has dropped from 32.29% to 1.36%.
This is not "gradual digestion," this is a clear retreat of heat.
Most importantly, open interest dropped from $11.8M to $8.3M, a 30.05% decrease from T0.
Funding rate also fell from 0.09% to 0.0198%, longs are still paying, but the enthusiasm is no longer the same.
Trading volume actually increased from $92.1M to $99.0M, indicating that it's not a lack of interest, but rather a scenario of hitting and withdrawing, with growing divergence.
Taker rate decreased from 1.06 to 1.02, indicating that longs are less proactive than before.
The long-short ratio changed from 0.94 to 1.21, with longs at 55%, but the price didn't strengthen accordingly, making it more uncomfortable for those chasing the heat at high levels.
Next, don't focus on stories, focus on the order book.
Key points are whether trading volume can continue to expand, whether open interest will return above $10M, and whether the funding rate will rise again.
#CLO
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