$PUMP This drop was pretty straightforward—within 15 minutes it knocked down about 2 percentage points, and the close even broke below the lows of nearly 20 five-minute candlesticks. The volume expanded to more than five times, and the active sell-side is clearly stronger—buy/sell ratio is 0.44. The bears are basically voting with their feet.
Don’t be fooled by the fact that the OI on the surface only moved by a few tenths of a point. The nominal position size shrank by over 2 million in 15 minutes, and by more than 3.6 million in the last hour—this smells strongly like longs being deleveraged. The funding rate is still sitting at a high level, and the OI anomaly percentile has directly topped out at 99.4%. With this kind of combination, it’s very normal that the bulls can’t hold on.
In the abnormal ranking across the whole pool, it’s 6th; in nominal change, it ranks 4th—this is a relatively solid risk signal. Don’t rush to bottom-fish now. Wait until this round of leverage washout has fully cleared. $PUMP
Don’t be fooled by the fact that the OI on the surface only moved by a few tenths of a point. The nominal position size shrank by over 2 million in 15 minutes, and by more than 3.6 million in the last hour—this smells strongly like longs being deleveraged. The funding rate is still sitting at a high level, and the OI anomaly percentile has directly topped out at 99.4%. With this kind of combination, it’s very normal that the bulls can’t hold on.
In the abnormal ranking across the whole pool, it’s 6th; in nominal change, it ranks 4th—this is a relatively solid risk signal. Don’t rush to bottom-fish now. Wait until this round of leverage washout has fully cleared. $PUMP
