$PEOPLE dipped further down again; in just 15 minutes it fell nearly 2%. The trading volume directly surged to more than 8x—clearly looks like funds are actively selling. More importantly, while the price made a recent low, the contract open interest didn’t really decrease. This feels more like newly opened leveraged short positions entering, rather than just long positions getting liquidated and running away.
The funding rate is still in a relatively high percentile in the recent period. Combined with this leg lower, the picture is quite clear: bears are in control. Over the past 24 hours, spot trading volume is only a bit over $12 million; it’s not huge, but with these smaller-cap coins, extreme volatility is more likely to appear.
PEOPLE has recently come close to its historical extreme ranges. The overall abnormality across the pool ranks #10, and the volatility Z-score is also 4, which indicates we’re truly at an edge right now. After breaking below the lower bound of the 20-K-line range, the share of active sell pressure is higher; the buy/sell ratio is 0.53. With this kind of structure, the probability of another push down isn’t low.
However, the nominal change in contract names isn’t significant—only -1.76%. You still need to observe how strong the follow-through is; don’t rush in recklessly. If it breaks down, don’t chase. A short on a rebound tends to be more comfortable.
The funding rate is still in a relatively high percentile in the recent period. Combined with this leg lower, the picture is quite clear: bears are in control. Over the past 24 hours, spot trading volume is only a bit over $12 million; it’s not huge, but with these smaller-cap coins, extreme volatility is more likely to appear.
PEOPLE has recently come close to its historical extreme ranges. The overall abnormality across the pool ranks #10, and the volatility Z-score is also 4, which indicates we’re truly at an edge right now. After breaking below the lower bound of the 20-K-line range, the share of active sell pressure is higher; the buy/sell ratio is 0.53. With this kind of structure, the probability of another push down isn’t low.
However, the nominal change in contract names isn’t significant—only -1.76%. You still need to observe how strong the follow-through is; don’t rush in recklessly. If it breaks down, don’t chase. A short on a rebound tends to be more comfortable.