$ONE This round on 15m surged 6.31%. The active buy/sell ratio is 1.22, and the spread is close to 10 points—buyers are really pushing.
But the key is to look at OI: in the 15m contract, open interest rose +2.32%, with a notional change of +679K, while on the 1-hour dimension it was actually -4.99% and -526K. What does it mean? Either the new long position just entered, or old shorts are covering and getting taken over by newly leveraged longs.
The abnormal percentile is 87.9%, whole pool #30, notional change #17—not at the very top, but still in the front row. 24h trading value is 770 million, and the volume/energy isn’t particularly outrageous; the 15m trade volume is only 0.92x. Price is being pushed faster than volume—this kind of structure often leads to wick/pin moves.
My take: the newly added leveraged longs are pushing, but 1h OI is still net decreasing, so the sustainability is questionable. If next the 15m OI continues piling up while price doesn’t follow, that’s a classic early sign of “leveraged longs slaughtering each other.” Don’t chase; wait for a pullback and see how well it holds.
But the key is to look at OI: in the 15m contract, open interest rose +2.32%, with a notional change of +679K, while on the 1-hour dimension it was actually -4.99% and -526K. What does it mean? Either the new long position just entered, or old shorts are covering and getting taken over by newly leveraged longs.
The abnormal percentile is 87.9%, whole pool #30, notional change #17—not at the very top, but still in the front row. 24h trading value is 770 million, and the volume/energy isn’t particularly outrageous; the 15m trade volume is only 0.92x. Price is being pushed faster than volume—this kind of structure often leads to wick/pin moves.
My take: the newly added leveraged longs are pushing, but 1h OI is still net decreasing, so the sustainability is questionable. If next the 15m OI continues piling up while price doesn’t follow, that’s a classic early sign of “leveraged longs slaughtering each other.” Don’t chase; wait for a pullback and see how well it holds.