$GRASS This drop is a bit sudden—on the 15m chart it directly fell -6.14%. Volume surged to 4.65x, the Z-score is 4.13, which is a typical volume-spike sell-off.
What’s interesting is that OI is still rising—15m +1.95%, 1h +1.72%. Prices are dropping while open interest increases. This script looks more like new short positions entering with added leverage, rather than old longs getting forced to liquidate.
Together with the abnormal percentile of OI at 94.4% and the entire pool’s abnormal ranks placing it at #10, it’s been continuing across several consecutive cycles. This isn’t just a one-needle move anymore.
Price has just broken below the lower bound of the recent ~20 5m-range, and the funding rate is also in a high percentile recently. The difference in aggressive/initiated trades is only 0.2%, and the buy/sell ratio is 1.00—this suggests it isn’t yet a one-sided panic sell, but more like capital is laying out positions while trading.
The 24h trading value is 71.74M. Liquidity depth is definitely there, but at this spot, any relative breakout is essentially a bet—whether you’re chasing shorts or bottom-catching. I’ll watch for now and wait to see which one loosens first: OI or the funding rate.
What’s interesting is that OI is still rising—15m +1.95%, 1h +1.72%. Prices are dropping while open interest increases. This script looks more like new short positions entering with added leverage, rather than old longs getting forced to liquidate.
Together with the abnormal percentile of OI at 94.4% and the entire pool’s abnormal ranks placing it at #10, it’s been continuing across several consecutive cycles. This isn’t just a one-needle move anymore.
Price has just broken below the lower bound of the recent ~20 5m-range, and the funding rate is also in a high percentile recently. The difference in aggressive/initiated trades is only 0.2%, and the buy/sell ratio is 1.00—this suggests it isn’t yet a one-sided panic sell, but more like capital is laying out positions while trading.
The 24h trading value is 71.74M. Liquidity depth is definitely there, but at this spot, any relative breakout is essentially a bet—whether you’re chasing shorts or bottom-catching. I’ll watch for now and wait to see which one loosens first: OI or the funding rate.