Reviewed by Reviewed by Jacob Thomas Updated 13:30 EDT October 10, 2026 Share Share Share Back to Top Optimism [OP] sees a bullish rebound following a price decline on the 7th of October that saw the asset fall roughly 12%. The pullback coincided with declining on-chain performance, Total Value Locked (TVL), and DEX volume
However, off-chain market activity has driven the recent 11% price surge, as capital inflows and market positioning support the potential for further price gains in the near term
The perpetual market position remains strongly bullish, with Open Interest (OI) and the Funding Rate being the key indicators suggesting this
OI in itself does not necessarily imply a bullish or bearish position in the market, but measures capital in the perpetual market
In the past 24 hours, Optimism‘s OI surged significantly, reaching a high of roughly $107.82 million following a 17.25% increase as of writing, confirming an inflow of $18.98 million
In addition to this, there has been a positive Funding Rate reading of 0.0096%. The Funding Rate measures whether long or short positions are dominating the capital positions in the perpetual market
When positive, it indicates that the bulls are in more control, with more long positions than short positions in the market. These conditions suggest there is a chance that the price will still move higher in the near term
Capital flows and broader market sentiment have been whale-dominated, with the Whale-Retail Delta confirming this
The Whale-Retail Delta measures whether whales, investors with large capital, or retail short-term traders have been in control, based on a positive or negative reading
At press time, the reading was positive at 0.332, but the slight drop on the 9th of October indicates that retail participation is currently playing a role
Binance whales played a significant role in the activity, with the Whale Long/Short Ratio metric showing a high buy-volume reading of 2.24. On Bybit, however, whales have taken a neutral stance
Sentiment remains bullish, as one would anticipate with an asset rallying. Data from CoinMarketCap shows that market sentiment remains positive, with a reading of 4.68 as of writing
The sentiment indicator operates between -10 and 10 on the scale. When the scale tilts towards a high positive reading, as it has presently, it confirms that the bulls are in control of the price
Given the market sentiment, there is a high chance that Optimism crypto‘s price will continue to maintain the bullish level it has sustained over the past couple of trading hours
Positive Funding Rates, whale activity, and a CoinGlass sentiment reading of 4.68 support a bullish outlook for OP
Olayiwola Dolapo is a Crypto Research Analyst at AMBCrypto, driven by a mission to make the digital asset space more transparent and understandable for all. His journey was catalyzed by an early experience in the market that underscored the importance of deep, foundational knowledge—a principle that now guides his professional work
