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$BTC
Quite a big surge in Open Interest on this move upward.
Longs were built from 75–77.5K, with funding decreasing from 78K to 79K.
We do have some longs exposed from 75–77.5K, but at the current highs, shorts are increasing alongside rising OI, which suggests aggressive short positioning is coming in.
It now depends on whether spot flows are strong enough to push higher and squeeze those shorts.
If spot demand is strong and keeps absorbing supply, shorts could get squeezed. If buyers slow down and can’t match the selling, shorts likely will be rewarded.#Gate13thAnniversaryLive