$BEAT This drop is kind of interesting. In 15 minutes it fell 2.64%, and the trading volume surged to more than 4 times—but the OI is still shrinking. Contract open interest dropped 1% over the same 15 minutes, and also fell 1.3% over the past hour. This doesn’t look like a squeeze that wipes out both longs and shorts after a big rally; it feels more like the longs are proactively conceding and exiting.
The aggressive order-flow imbalance has widened to -27.6%, with a buy/sell ratio of 0.57—the shorts are chasing the move. Price has already broken below the lower bound of the most recent 20 five-minute candles. It feels like it’s probing at the edge of a historical extreme range.
Across the whole pool, this anomaly ranks #2, and the notional change is also near the top—so this round’s focus is clearly here.
More importantly, the funding rate is still in a high percentile, suggesting that the longs who were previously hard-carrying haven’t fully been wiped out yet; the “second liquidation / second stampede” seed is still there.
Personally, I think only if it can quickly reclaim the broken area from just now can we regard it as stabilizing. Otherwise, it’s more likely to keep searching for liquidity lower down. Going long on the left-side bottom here doesn’t feel very comfortable; I’d wait for the structure to play out first before deciding.
The aggressive order-flow imbalance has widened to -27.6%, with a buy/sell ratio of 0.57—the shorts are chasing the move. Price has already broken below the lower bound of the most recent 20 five-minute candles. It feels like it’s probing at the edge of a historical extreme range.
Across the whole pool, this anomaly ranks #2, and the notional change is also near the top—so this round’s focus is clearly here.
More importantly, the funding rate is still in a high percentile, suggesting that the longs who were previously hard-carrying haven’t fully been wiped out yet; the “second liquidation / second stampede” seed is still there.
Personally, I think only if it can quickly reclaim the broken area from just now can we regard it as stabilizing. Otherwise, it’s more likely to keep searching for liquidity lower down. Going long on the left-side bottom here doesn’t feel very comfortable; I’d wait for the structure to play out first before deciding.