$OPG This wave of longs de-leveraging a bit too fast.
On the 15m timeframe, the price is down 1.41%, and OI also fell by 1.79%. Notional ran about 231K U out—this isn’t new shorts entering; it’s leveraged longs pulling back. The funding rate is still in the high percentile in the recent period, which suggests many people were crowded into going long earlier, and now they’re starting to clear them out.
The OI percentile is异常 at 94.8%, the whole pool #12—this position is inherently sensitive. Aggressive trade imbalance is -0.8%, buy/sell ratio is 0.98. Sell pressure isn’t particularly fierce, but the longs themselves started shrinking first. Over the past 24h, total traded value is a bit over 26M. Liquidity depth isn’t great—if a slightly concentrated portion of positions closes, it’s easy to push the price down by a further step.
Watch whether this level can hold. If OI keeps dropping, that would actually be cleaner.
On the 15m timeframe, the price is down 1.41%, and OI also fell by 1.79%. Notional ran about 231K U out—this isn’t new shorts entering; it’s leveraged longs pulling back. The funding rate is still in the high percentile in the recent period, which suggests many people were crowded into going long earlier, and now they’re starting to clear them out.
The OI percentile is异常 at 94.8%, the whole pool #12—this position is inherently sensitive. Aggressive trade imbalance is -0.8%, buy/sell ratio is 0.98. Sell pressure isn’t particularly fierce, but the longs themselves started shrinking first. Over the past 24h, total traded value is a bit over 26M. Liquidity depth isn’t great—if a slightly concentrated portion of positions closes, it’s easy to push the price down by a further step.
Watch whether this level can hold. If OI keeps dropping, that would actually be cleaner.