Open Interest falls 30% as $SKYAI consolidates $SK
Open Interest falls 30% as $SKYAI consolidates
$SKYAI’s Open Interest (OI) in tandem with the price during its June mid-rally. This indicates how much speculative longs may have contributed to this recent run.
As the OI peaked at approximately $173 million on the 17th of June, it was primarily due to the speculation regarding Forward Industries potential buyout and the push toward the June peak at $0.4792. This implies that most of the speculation has since been flushed out.
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At press time, it sat near $120 million, or down about 30.4%, compared to the all-time June high.
Meanwhile, the price continues holding near $0.37-$0.39 rather than collapsing alongside OI. That distinction matters because falling OI with stable price action often signals a leverage reset rather than aggressive liquidation.
Looking ahead, liquidity remains concentrated around $0.4792 above and $0.3285 below. Therefore, $SKYAI appears to be consolidating while the market searches for its next liquidity target, with reduced leverage leaving room for a cleaner directional move.
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