$CAP This one is a bit interesting.
On the 15m chart, it dropped 2.31%. The trading volume surged to 1.85 times the usual level, and the price also broke through the lower boundary of the past nearly 20 5m candlestick range. It looks like panic selling is running, but the real signal is hidden in the futures—OI is shrinking. On the 15m timeframe, it’s down 1.02%, and on the 1h timeframe it’s also down 0.78%; nominal changes are all negative.
This doesn’t look like incremental short-selling pressure. It looks more like longs are actively deleveraging—cutting positions and exiting. The active-trade volume difference is -12.6%, the buy/sell ratio is 0.78, and sell pressure is indeed heavier. But the combination of OI falling alongside price dropping often suggests the selling pressure may be close to its end, rather than the starting point of a trend.
Also, the abnormal percentile of OI has already reached 94.2%, ranking
#9 in the whole pool. The nominal change is also near the top, and both depth and participation are solid. This indicates that this level isn’t just small-time retail activity—there is real capital seriously competing here.
Over the past 24 hours, turnover is 54M. Liquidity isn’t lacking, but the direction hasn’t fully emerged yet. Right now it feels like a critical point—either it continues to explode lower and force another round of long liquidation, or this is the short-term bottom.
If you’re lightly positioned, watch from the sidelines—don’t rush to catch the falling knife.