$KAT This drop is a bit interesting: the price fell 1.44%, and the OI dropped as well. The 15m contract is -2.33%, and the 1h is even worse at -3.50%. The notional change is -220K. This doesn’t look like fresh shorts entering; it feels more like longs are being gradually squeezed out—stop-losses or主动减仓 (active de-risking) rather than a new wave of selling.
The aggressive trade difference is -17%, the buy/sell ratio is 0.71, and sell pressure is dominant. The funding rate is still in the higher range recently, which suggests the longs were indeed crowded before, and now we’re in a deleveraging phase. Trading volume is only 0.49x, volatility Z is 0.68—not panic liquidation, more like a dull blade cutting the position slowly.
The OI percentile is abnormally high at 82.5%; overall pool anomaly is #14, notional change #25. In terms of data it’s definitely among the top, but the order book hasn’t shown the kind of breakdown-style volume yet. Let’s see when this deleveraging wave finally stops—don’t rush to catch the falling knife.
The aggressive trade difference is -17%, the buy/sell ratio is 0.71, and sell pressure is dominant. The funding rate is still in the higher range recently, which suggests the longs were indeed crowded before, and now we’re in a deleveraging phase. Trading volume is only 0.49x, volatility Z is 0.68—not panic liquidation, more like a dull blade cutting the position slowly.
The OI percentile is abnormally high at 82.5%; overall pool anomaly is #14, notional change #25. In terms of data it’s definitely among the top, but the order book hasn’t shown the kind of breakdown-style volume yet. Let’s see when this deleveraging wave finally stops—don’t rush to catch the falling knife.