$FET 15 minute-level action is back with a vengeance—dropping directly by 1.2%, and volume has surged to more than three times the usual amount. This isn’t a normal pullback.
The price has broken below the lower bound of the short-term range. Sell orders dominate, with aggressive dumping, and the buy side can hardly absorb it. Open interest is falling and the notional value is also shrinking, indicating that the longs are passively exiting. Leverage capital is conceding—not new leveraged shorts piling in to smash it. It looks more like a cascade.
The OI abnormal percentile has jumped straight to 99%, ranking second in the entire pool. The signal is already extremely extreme. Looking only at the 15-minute window, a reduction of 440,000 U in open interest doesn’t seem that large, but if this de-leveraging is continuing across multiple consecutive cycles, the momentum may still be there.
Over the past 24 hours, spot trading volume is over 35 million U, which suggests liquidity remains. But the direction is very clear—shorts are in control. Don’t rush to bottom-pick; wait for open interest to stop falling and stabilize before deciding.
The price has broken below the lower bound of the short-term range. Sell orders dominate, with aggressive dumping, and the buy side can hardly absorb it. Open interest is falling and the notional value is also shrinking, indicating that the longs are passively exiting. Leverage capital is conceding—not new leveraged shorts piling in to smash it. It looks more like a cascade.
The OI abnormal percentile has jumped straight to 99%, ranking second in the entire pool. The signal is already extremely extreme. Looking only at the 15-minute window, a reduction of 440,000 U in open interest doesn’t seem that large, but if this de-leveraging is continuing across multiple consecutive cycles, the momentum may still be there.
Over the past 24 hours, spot trading volume is over 35 million U, which suggests liquidity remains. But the direction is very clear—shorts are in control. Don’t rush to bottom-pick; wait for open interest to stop falling and stabilize before deciding.