$GIGGLE This drop is kind of interesting—within 15 minutes it’s down -1.84%, and volume surged to 3.5x. The volatility Z is up to 4.8. From the chart, it looks like it broke below the lows of the past 20 five-minute K-lines, and the aggressive sell pressure is pretty fierce. The buy/sell ratio is 0.56, and the spread is -28.4%.
As for OI, it’s actually a bit subtle: in the 15-minute window it barely moved, but nominally it dropped by -233K. Over the 1-hour contracts, nominal change is also -1.98% and shrinking. With a price drop plus OI decreasing, it looks more like longs are deleveraging and escaping rather than shorts adding to smash the market. The pool’s abnormal percentile is 93.3%, ranking at #17; nominal changes also climbed to #19. The funding rate is still elevated. With all these signals stacked together, it’s obvious that someone can’t hold on and is actively cutting positions.
But then again, 24-hour trading volume is only 18.83M—call the liquidity big or small, it’s not huge. At this kind of level, it’s easy to see a rebound after a sudden selloff, but it also can’t be ruled out that it keeps washing lower. Don’t rush to catch the falling knife—wait until volume is confirmed. This is how the script plays out: $GIGGLE , keep your eyes on it.
As for OI, it’s actually a bit subtle: in the 15-minute window it barely moved, but nominally it dropped by -233K. Over the 1-hour contracts, nominal change is also -1.98% and shrinking. With a price drop plus OI decreasing, it looks more like longs are deleveraging and escaping rather than shorts adding to smash the market. The pool’s abnormal percentile is 93.3%, ranking at #17; nominal changes also climbed to #19. The funding rate is still elevated. With all these signals stacked together, it’s obvious that someone can’t hold on and is actively cutting positions.
But then again, 24-hour trading volume is only 18.83M—call the liquidity big or small, it’s not huge. At this kind of level, it’s easy to see a rebound after a sudden selloff, but it also can’t be ruled out that it keeps washing lower. Don’t rush to catch the falling knife—wait until volume is confirmed. This is how the script plays out: $GIGGLE , keep your eyes on it.