$VELVET This pullback is a bit brutal.
In just 15 minutes, it dumped nearly 6 percentage points. Trading volume spiked to 3.8x the normal level, with a Z-score of 4.85—this isn’t ordinary movement. The key is OI: in the 15-minute contracts, OI dropped 1.66%, nominal value shrank by more than 7 points, and the 1-hour trend is the same. Price falling together with falling OI is typical passive deleveraging—longs are being liquidated, they’re not actively opening shorts.
Active trading volume is down 22.4%, the buy/sell ratio is 0.63, and sell pressure is dominating. The close has already broken below the lower band of the last ~20 5-minute candles; structurally, the short-term picture has been broken.
The OI abnormal percentile reached 100%, ranking second in the whole pool, and the nominal change is also among the top. Moreover, this anomaly has been continuing across multiple consecutive periods. In the past 24 hours, turnover is only a little over 12 million—at this size, such abnormal movement suggests that positions are being squeezed/rapidly withdrawn.
Don’t just shout “short.” At this level, longs likely need to digest first. Near extreme zones, don’t rush to enter.
In just 15 minutes, it dumped nearly 6 percentage points. Trading volume spiked to 3.8x the normal level, with a Z-score of 4.85—this isn’t ordinary movement. The key is OI: in the 15-minute contracts, OI dropped 1.66%, nominal value shrank by more than 7 points, and the 1-hour trend is the same. Price falling together with falling OI is typical passive deleveraging—longs are being liquidated, they’re not actively opening shorts.
Active trading volume is down 22.4%, the buy/sell ratio is 0.63, and sell pressure is dominating. The close has already broken below the lower band of the last ~20 5-minute candles; structurally, the short-term picture has been broken.
The OI abnormal percentile reached 100%, ranking second in the whole pool, and the nominal change is also among the top. Moreover, this anomaly has been continuing across multiple consecutive periods. In the past 24 hours, turnover is only a little over 12 million—at this size, such abnormal movement suggests that positions are being squeezed/rapidly withdrawn.
Don’t just shout “short.” At this level, longs likely need to digest first. Near extreme zones, don’t rush to enter.
