As reported by Bijié Wǎng, the SPX index (SPX6900) surged 17% in the past 24 hours, driven by increased open interest, whale buying, and strong EMA support. Open interest has risen to $29 million, matching levels seen on November 18, historically signaling strong upward price reactions. Whale wallets have been consistently accumulating positions, and the long-to-short ratio stands at 1.67, indicating a significant shift in market sentiment. The index has held above a key EMA support level, suggesting a potential move toward the $0.72 resistance. However, sustained whale participation and stable funding conditions will be crucial for the bullish momentum to continue.
SPX Index Surges 17% Amid Whale Accumulation and Rising Open Interest
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