This ESP move is a bit interesting.
The price broke below the lower edge of the range covered by the last nearly 20 five-minute candlesticks. The 15-minute drop isn’t huge, but the volume surged to 1.8x—seller-initiated orders accounted for a 14-point increase, and the bid-ask spread between buy one and sell one was 1.33 apart. The shorts are really smashing it; this isn’t the kind of panic sell-off you’d see from retail traders—it’s a clear, directional concession.
More importantly, OI is dropping in sync. Over the last 15 minutes, contract positions shrank by 0.71%, and over the last hour they shrank by 1.26%. Nominal value outflow totaled over 60k U. This structure of “price falling + positions decreasing” is very likely not new shorting—it looks more like longs are actively deleveraging and cutting positions to stop-loss.
Also, this abnormal OI percentile has already reached 92.3%, ranking third in the whole pool. It has been continuing across multiple periods, not just a brief one-off pulse. Overall, it’s a combination of contraction-led selling and a volume-backed confirmation of the dump.
As I said: the longs didn’t hold their ground, and the trend is still heading downward—don’t rush to catch falling knives.
#ESP
The price broke below the lower edge of the range covered by the last nearly 20 five-minute candlesticks. The 15-minute drop isn’t huge, but the volume surged to 1.8x—seller-initiated orders accounted for a 14-point increase, and the bid-ask spread between buy one and sell one was 1.33 apart. The shorts are really smashing it; this isn’t the kind of panic sell-off you’d see from retail traders—it’s a clear, directional concession.
More importantly, OI is dropping in sync. Over the last 15 minutes, contract positions shrank by 0.71%, and over the last hour they shrank by 1.26%. Nominal value outflow totaled over 60k U. This structure of “price falling + positions decreasing” is very likely not new shorting—it looks more like longs are actively deleveraging and cutting positions to stop-loss.
Also, this abnormal OI percentile has already reached 92.3%, ranking third in the whole pool. It has been continuing across multiple periods, not just a brief one-off pulse. Overall, it’s a combination of contraction-led selling and a volume-backed confirmation of the dump.
As I said: the longs didn’t hold their ground, and the trend is still heading downward—don’t rush to catch falling knives.
#ESP