RIVER's recent on-chain volatility is worth monitoring. From a funding rate perspective, it's currently in negative territory at -0.81%, which typically indicates crowded short positions. What's particularly interesting is the liquidation data——a total of 10,385 contracts were liquidated, with shorts dominating the majority at 9,469 contracts (91%), while longs only accounted for 916.

What signals does this reveal? On one hand, OI (open interest) increased by 10.14%, indicating rising market participation. On the other hand, the price rose 4.32% within the 15-minute timeframe. With such gains, having this many shorts liquidated reflects a clear shift in market sentiment——longs are actively increasing positions while shorts are accelerating their exits.

Overall, RIVER is exhibiting a strong short squeeze dynamic. The large-scale liquidation of shorts and active position increases by longs present a stark contrast, with relatively sufficient trend momentum and potential for continued gains in the short term.