SOON crypto's 14% rally driven by perp traders, retail

Across all centralized exchanges, the aggregate long/short ratio was 0.96, a slight short bias. Funding rates were positive, so long traders were paying periodic fees to maintain their positions.

Spot buying also supported the rally. Net buying reached $97,920 over the prior 48 hours, with total buying near $1.84 million.

The whale-retail delta fell to -0.039, a reading that points to retail traders controlling the move. A negative delta signals that smaller accounts have driven the price action, a pattern that often precedes sharp reversals, data show.

Open interest across all exchanges was $41.82 million.