$VVV This 15-minute move dropped more than 2 points directly. Volume exploded to 3.87x—it's enough to make your eyelids twitch.
In passing, the price also broke through the lower ends of the ranges of nearly 20 five-minute candlesticks. Aggressive sell orders clearly have the absolute advantage, and the buy side can hardly fight back. Funding rates are still sitting at elevated levels. This combination of prices falling + positions shrinking looks more like liquidation/clearing of long leverage rather than a panic-style stampede.
On the contracts side, open interest is shrinking: the nominal changes over the 15-minute and 1-hour windows are both negative, and in total about several hundred thousand USD have been net withdrawn. The pool’s nominal change ranks as high as #28, and the OI abnormal percentile has climbed to 98.8%. For several consecutive cycles, it’s been in this kind of state, and the system has already flagged it as a high-quality event—indicating the market really is fairly extreme, not some ordinary, small-scale action.
Right now, it’s the “many kill many” script. In the next 24 hours there’s still over $23 million in trading volume providing support, so liquidity hasn’t dried up. After this, either it drops to the bottom and rebuilds strength, or there’s still one more jolt lower. Keep a close eye on it—don’t rush to bottom-fish, and don’t chase shorts either. Wait until the structure is clear before making a call.
In passing, the price also broke through the lower ends of the ranges of nearly 20 five-minute candlesticks. Aggressive sell orders clearly have the absolute advantage, and the buy side can hardly fight back. Funding rates are still sitting at elevated levels. This combination of prices falling + positions shrinking looks more like liquidation/clearing of long leverage rather than a panic-style stampede.
On the contracts side, open interest is shrinking: the nominal changes over the 15-minute and 1-hour windows are both negative, and in total about several hundred thousand USD have been net withdrawn. The pool’s nominal change ranks as high as #28, and the OI abnormal percentile has climbed to 98.8%. For several consecutive cycles, it’s been in this kind of state, and the system has already flagged it as a high-quality event—indicating the market really is fairly extreme, not some ordinary, small-scale action.
Right now, it’s the “many kill many” script. In the next 24 hours there’s still over $23 million in trading volume providing support, so liquidity hasn’t dried up. After this, either it drops to the bottom and rebuilds strength, or there’s still one more jolt lower. Keep a close eye on it—don’t rush to bottom-fish, and don’t chase shorts either. Wait until the structure is clear before making a call.
