$MARSCOIN This sell-off is kind of interesting.
On the 15m timeframe, the price broke below nearly 20 of the 5m range lows; it’s down -2.08%. Active trade imbalance is -26%, and the buy-sell ratio is 0.59, with sell pressure clearly stronger. But the key isn’t the price itself—it’s that OI is contracting at the same time: 1h contracts are down -1.63%, nominal -952K, and the 15m is also at -1.24%.
This doesn’t look like fresh shorts entering; it’s more like longs deleveraging. Stop-losses, position reductions, and passive liquidation pushing it through—selling pressure squeezes the move out step by step.
The OI abnormal percentile is 97%, across the whole pool #8. Trading volume is 1.53x above normal, and nominal changes are also in the top 10. The data suggests this is a liquidation event with depth, not just an emotion-driven dump. 24h trading value is 84.44M; the order book is thick enough that it shouldn’t shatter on a single touch.
The question now is: has the deleveraging finished? If OI keeps falling and price stabilizes from selling pressure, it could be the tail end of the shakeout. If OI holds steady while price continues lower, that’s a different story.
Keep an eye on the subsequent changes in open positions.
On the 15m timeframe, the price broke below nearly 20 of the 5m range lows; it’s down -2.08%. Active trade imbalance is -26%, and the buy-sell ratio is 0.59, with sell pressure clearly stronger. But the key isn’t the price itself—it’s that OI is contracting at the same time: 1h contracts are down -1.63%, nominal -952K, and the 15m is also at -1.24%.
This doesn’t look like fresh shorts entering; it’s more like longs deleveraging. Stop-losses, position reductions, and passive liquidation pushing it through—selling pressure squeezes the move out step by step.
The OI abnormal percentile is 97%, across the whole pool #8. Trading volume is 1.53x above normal, and nominal changes are also in the top 10. The data suggests this is a liquidation event with depth, not just an emotion-driven dump. 24h trading value is 84.44M; the order book is thick enough that it shouldn’t shatter on a single touch.
The question now is: has the deleveraging finished? If OI keeps falling and price stabilizes from selling pressure, it could be the tail end of the shakeout. If OI holds steady while price continues lower, that’s a different story.
Keep an eye on the subsequent changes in open positions.