When OI and Volume surge in tandem, it reflects increased participation in the futures and higher capital inflow.
Surprisingly, despite rising participation, the altcoin’s Long Short Ratio failed to flip one and sat around 0.9569, at press time.
When this ratio holds below 1, it suggests a higher demand for short positions compared to longs.
Short positions accounted for 53% while longs accounted for 46.9% of the total Futures accounts. Based on this, we can conclude that these whales rushed into the market to take short positions.
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