Markets· ★★· bearish·

Wormhole drops 34% as shorts pile up and open interest plunges 48%

  • —Wormhole (W) fell 34% in 24 hours amid rising trading volume
  • —Funding rate dropped to -0.0436%, pointing to crowded short positioning
  • —Open interest declined 48% to $71.47 million
  • —Long/Short Ratio held at 1.05 with perpetual volume above $1.06 billion
Why it matters: Crowded shorts combined with shrinking open interest could trigger a sharp short squeeze if sentiment reverses.
#W
Source: AMBCrypto
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