$ALLO This sell-off isn’t shorts dumping—it’s longs tripping over themselves.
On 15m, it dropped directly 4.71%, with volume hitting about 5x normal. OI on 15m is -1.99%, and notional fell by roughly 890k USDT; on the 1h chart, the notional change is only -0.22%—which indicates this isn’t new short positioning. It’s earlier longs getting liquidated, cutting losses, and getting forced out.
Aggressive trade imbalance is -7.3%, buy/sell ratio is 0.86, and real sell pressure is definitely there.
But the most important thing to watch is the OI abnormal percentile at 100%, the whole pool #1. What does that mean? It means the extremity of this indicator across the entire market—no one is more extreme than it right now. The funding rate is still at a high percentile recently, suggesting leveraged longs were piled on too heavily before; now they’re just beginning to unwind.
24h trading volume is 19M. The pool isn’t that large. If this deleveraging continues, there may still be a liquidity gap further down.
Not calling for a short—just a reminder: when OI abnormality persists across multiple consecutive cycles, in this kind of structure don’t rush to bottom-fish. Wait until OI stabilizes before thinking about it.
On 15m, it dropped directly 4.71%, with volume hitting about 5x normal. OI on 15m is -1.99%, and notional fell by roughly 890k USDT; on the 1h chart, the notional change is only -0.22%—which indicates this isn’t new short positioning. It’s earlier longs getting liquidated, cutting losses, and getting forced out.
Aggressive trade imbalance is -7.3%, buy/sell ratio is 0.86, and real sell pressure is definitely there.
But the most important thing to watch is the OI abnormal percentile at 100%, the whole pool #1. What does that mean? It means the extremity of this indicator across the entire market—no one is more extreme than it right now. The funding rate is still at a high percentile recently, suggesting leveraged longs were piled on too heavily before; now they’re just beginning to unwind.
24h trading volume is 19M. The pool isn’t that large. If this deleveraging continues, there may still be a liquidity gap further down.
Not calling for a short—just a reminder: when OI abnormality persists across multiple consecutive cycles, in this kind of structure don’t rush to bottom-fish. Wait until OI stabilizes before thinking about it.