Will STX see some upside after its latest 8% price drop?

Stacks [STX] declined notably over the past 24 hours, accounting for an 8% drop in price to $0.345. This dragged its 7-day performance down by 15%. The bears’ dominance seemed to persist due to capital conditions in the market. However, the possibility of a rebound might be on the table as investors across multiple venues maintain their positions. STX capital outflows rise The fall seen in STX has been driven largely by capital flows across the asset’s perpetual market. Open Interest, which measures the capital in an asset’s perpetual market, saw a major decline of more than 7% in just 24 hours. According to CoinGlass, this brought the total capital positions in the STX perpetual market down to roughly $47.13 million at press time.

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