$IDOL This 15-minute move dumped nearly 7% outright, with volume surging to 1.92x. This isn’t a slow bleed on shrinking volume—someone is selling hard with real money.
The interesting part is OI: +0.24% over 15m and +1.04% over 1h. Price is falling while open interest is rising, even as notional value shrinks—a classic sign of new leveraged shorts entering, not old longs closing out. The OI anomaly is at the 89.3rd percentile, ranking
#14 across the pool, with notional change at #9. An anomaly persisting across several consecutive periods can’t be explained by a single wick.
Price has already broken below the lows of the last 20 five-minute candles. Aggressive trade flow is at -3.4%, and the buy/sell ratio is 0.93: selling pressure is dominant, but it hasn’t reached panic levels. Funding rates are still at a relatively high level… Shorts adding leverage here are either sure there’s another leg down, or they’re piling up fuel for a rebound.
24-hour trading volume is nearing $500 million, and liquidity is deep. Don’t rush to catch a falling knife—first see whether these shorts are adding to their positions or taking profits.