VET is once again taking a slow, grinding hit. In just 15 minutes, it dropped 1.65%, and by the close it had even broken below the lower edge of the recent 20 five-minute candles. The bulls basically had no fight left.
Trading volume expanded to 5.7x, but this wasn’t fresh money coming in; it looked more like panic sellers rushing out. The share of aggressive selling was 52.6%, and the buy-sell ratio was nearly down to 0.3, completely one-sided. Interestingly, open interest didn’t surge much—in the 15-minute contract, it only shrank by 0.04%. That suggests this move wasn’t driven by massive liquidations, but rather by some longs actively admitting defeat and reducing positions.
Funding rates are still holding at elevated levels, yet price has already flattened near an extreme historical zone. This kind of combination—“funding hasn’t cooled, but price has already slumped”—often means there may still be one last flush ahead. Still, the abnormal OI has reached the 98.6th percentile and ranks 4th across the pool, so it has indeed entered a depth zone that can’t be ignored.
My current read on VET is: a hidden battle before dawn, but how long the “before” lasts, nobody knows. $VET
Trading volume expanded to 5.7x, but this wasn’t fresh money coming in; it looked more like panic sellers rushing out. The share of aggressive selling was 52.6%, and the buy-sell ratio was nearly down to 0.3, completely one-sided. Interestingly, open interest didn’t surge much—in the 15-minute contract, it only shrank by 0.04%. That suggests this move wasn’t driven by massive liquidations, but rather by some longs actively admitting defeat and reducing positions.
Funding rates are still holding at elevated levels, yet price has already flattened near an extreme historical zone. This kind of combination—“funding hasn’t cooled, but price has already slumped”—often means there may still be one last flush ahead. Still, the abnormal OI has reached the 98.6th percentile and ranks 4th across the pool, so it has indeed entered a depth zone that can’t be ignored.
My current read on VET is: a hidden battle before dawn, but how long the “before” lasts, nobody knows. $VET
