Crypto
NVIDIA Tokenized Stock Plunges 2.74% to $220 Amid Bearish Derivatives Signals
NVIDIA's tokenized stock has taken a sharp hit, sliding 2.74% to $220. This follows a clean break of its 7-day simple moving average and 12-period EMA, indicating a breakdown in the short-term trend structure.
The derivatives picture is also bearish, with open interest climbing 1.43% on a down move, showing that new shorts are being added to weakness rather than existing longs getting stopped out.
Top traders on Binance Futures have a net short lean of 52.8%, and their notional exposure suggests they're positioned for more downside. The AI GPU supercycle narrative remains intact, but the technicals are currently running the show.