$NOT late-night another burst of volume and heavy selling; within 15 minutes the price dropped nearly 3%. The amplitude now ranks at the very front in the whole pool. Trading volume is more than three times normal, and the price has also broken below the lower bound of the recent short-term range.
The key is the OI. In the 15-minute contracts, open interest was cut by 6.7%, and the notional value fell by more than 200k U. This isn’t a sell-off caused by longs actively adding to the dump; it looks more like leverage being forced out and longs getting stopped out and exiting. The net aggressive trade flow is negative—selling pressure is clearly dominant, and bids can’t hold up.
After the fall to this kind of historical extreme level, it’s abnormal volatility with deep confirmation. The most nerve-wracking scenario is a pullback to the range boundary. What matters now is whether the funds will keep running—if they do, there’s still room for further downside. But if volume suddenly dries up and selling stops, that would be a different story. Don’t rush to catch the falling knife; let the bullets fly for a bit.
The key is the OI. In the 15-minute contracts, open interest was cut by 6.7%, and the notional value fell by more than 200k U. This isn’t a sell-off caused by longs actively adding to the dump; it looks more like leverage being forced out and longs getting stopped out and exiting. The net aggressive trade flow is negative—selling pressure is clearly dominant, and bids can’t hold up.
After the fall to this kind of historical extreme level, it’s abnormal volatility with deep confirmation. The most nerve-wracking scenario is a pullback to the range boundary. What matters now is whether the funds will keep running—if they do, there’s still room for further downside. But if volume suddenly dries up and selling stops, that would be a different story. Don’t rush to catch the falling knife; let the bullets fly for a bit.