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Are traders still betting on upside?
Derivative traders also appeared to be backing the move.
At press time, HYPE’s Long/Short Ratio stood at 1.06, indicating bullish positioning among traders.
Meanwhile, the OI-Weighted Funding Rate turned positive and climbed to 0.0346%. This suggested that traders were willing to pay a premium to maintain long positions. That alignment between whale activity, ETF inflows, and derivatives data reinforced the bullish outlook.
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