$NIL That drop was pretty straightforward—15m went straight to -10%. The volume hit 2.53x, and the Z value is 5.27. This isn’t the kind of slow, sluggish drifting down; it’s a volume-backed move.
The key isn’t the price—it's the OI. 15m is -4.11%, 1h is -5.30%. Notional fell by over 2M; the abnormal percentile is 99.8%, ranking third in the whole pool. This is a classic long-side deleveraging / stop-loss cascade, not fresh shorts coming in to smash it.
The aggressive buy/sell ratio is 0.81; aggressive difference is -10.3%. Selling pressure is there, but it feels more like passive position liquidation driving it.
Price broke below the lower edge of the recent ~20 5m range and closed below it. In the last 24h, turnover is 523M; in terms of notional change, it ranks fourth in the pool, and liquidity depth is there. With this kind of structure, I generally don’t rush to catch it. Until the deleveraging is finished, any rebound is mainly for “escape.”
Wait for the OI to stabilize a bit, then take another look—don’t guess the bottom halfway up the slope.
The key isn’t the price—it's the OI. 15m is -4.11%, 1h is -5.30%. Notional fell by over 2M; the abnormal percentile is 99.8%, ranking third in the whole pool. This is a classic long-side deleveraging / stop-loss cascade, not fresh shorts coming in to smash it.
The aggressive buy/sell ratio is 0.81; aggressive difference is -10.3%. Selling pressure is there, but it feels more like passive position liquidation driving it.
Price broke below the lower edge of the recent ~20 5m range and closed below it. In the last 24h, turnover is 523M; in terms of notional change, it ranks fourth in the pool, and liquidity depth is there. With this kind of structure, I generally don’t rush to catch it. Until the deleveraging is finished, any rebound is mainly for “escape.”
Wait for the OI to stabilize a bit, then take another look—don’t guess the bottom halfway up the slope.
