ORDI has made quite a move.
It jumped 2% on the 15m chart, with volume surging to 8x normal, and the closing price forcibly broke above the upper band of the previous 20 5m candles. More importantly, OI rose 1.58% in sync, notional change hit 278K, and the funding rate is also at a recent high — this is not short covering, but genuine new leveraged longs entering.
It ranks first in pool-wide anomaly level, with a 100% percentile, and an active buy-sell ratio of 1.88, clearly biased to the long side. ORDI is already close to its historical extreme zone, while BTC and ETH nearby have not broken out yet; the move may draw the first crack in the market through it.
That said, chasing higher prices requires caution. Both the funding rate and volatility Z are at elevated levels — at this kind of position, it is either the start of a new trend or a very eye-opening lesson for those buying the top.
It jumped 2% on the 15m chart, with volume surging to 8x normal, and the closing price forcibly broke above the upper band of the previous 20 5m candles. More importantly, OI rose 1.58% in sync, notional change hit 278K, and the funding rate is also at a recent high — this is not short covering, but genuine new leveraged longs entering.
It ranks first in pool-wide anomaly level, with a 100% percentile, and an active buy-sell ratio of 1.88, clearly biased to the long side. ORDI is already close to its historical extreme zone, while BTC and ETH nearby have not broken out yet; the move may draw the first crack in the market through it.
That said, chasing higher prices requires caution. Both the funding rate and volatility Z are at elevated levels — at this kind of position, it is either the start of a new trend or a very eye-opening lesson for those buying the top.