QQQUSDT Perpetual Gains 0.98% as Open Interest Falls 4.51%

Binance’s QQQUSDT perpetual rose 0.98% to $729.64 over 24 hours on Oct. 16 as open interest dropped 4.51%, leaving the rebound without confirmation from an increase in outstanding contracts. Open interest stood at about 147,922 contracts, or roughly $105.6 million in notional value. Falling open interest indicates that positions are closing, but does not show whether long or short positions exited. The decline does not establish short covering or show that new bullish positions entered the market. The contract remained below all five tracked moving averages.

Source: TokenPost