$ETH open interest exploded on this dump, lots of new shorts with some longs, too. Aggregated funding is negative (shorts paying longs) A bunch of ETH spot buying on the tape Aggregated spot CVD slightly trending up, +17K net ETH spot
$ETH I hope I'm wrong but spot CVD down even while price pumped -\> real underlying sell pressure. Spot was selling into the move. Futures CVD up with the pump -\> someone used perps to push price up against that sell flow. This could be markup price for distribution
There must be a lot of exit/relief sellers on $BTC too. They've been underwater for weeks while being inundated with bear posting and fud, many will exit as soon as they can.
$ETH 2D above mid BB for first time since end of October + BB squeeze. Candle doesn't print until tomorrow though, so a lot can change before then $ETH 3D testing mid BB for resistance + BB squeeze but 2 days before it prints