$Bull comes in. This 15m dump at 15m hits pretty decisively—-6.09%. The volume reaches 1.95x, with a Z value of 3.08. This kind of momentum is clearly not something retail can just casually trigger with a quick smash.

What’s interesting is that OI doesn’t drop—instead it rises. For 15m: +1.10%, for 1h: +0.34%. Price falls while positions rise. That’s the standard pattern of new leveraged short entry. Aggressive traded volume underperformed by -23.1%, buy/sell ratio is 0.63, and sell pressure is in control. Even the close breaks below the lower bound of the past 20+ 5m candles.

The abnormal percentile is 85.9%, ranking 22nd in the whole pool. The nominal change ranks 6th. In a contract with 24h turnover of 870 million (0.87 billion), this kind of structure doesn’t look like simple profit-taking—it looks more like someone is actively adding shorts at this level.

Next, watch two things: whether price can quickly reclaim the range, and when OI starts to drop—if shorts keep building and price just goes sideways without falling, then it’s a different story.