ENA This move isn’t small.
The price in the 15m timeframe fell 0.28%. It doesn’t look like much, but OI dropped 2.05% in an hour. With nominal value at 2.95 million U withdrawing, this isn’t new shorts entering—it’s long positions reducing exposure. Active trade imbalance is -7.2%, buy/sell ratio is 0.87, sell pressure is more actively applied. In the 5m timeframe, Binance liquidations via proxy totaled 246K U, and the sell-side direction is more concentrated.
The funding rate is still in the recent high percentile. The combination here is kind of interesting: a relatively high funding rate suggests longs were previously crowded. Now with OI down and price drifting lower, it looks more like leverage can’t hold itself up first. Whole-pool abnormality #96, nominal change #15—depth confirmation has been checked; this isn’t small-scale action.
In the past 24 hours, spot volume is 365 million U, and liquidity is sufficient. But with this kind of structure, don’t rush to jump in—wait until longs finish deleveraging before taking action.
The price in the 15m timeframe fell 0.28%. It doesn’t look like much, but OI dropped 2.05% in an hour. With nominal value at 2.95 million U withdrawing, this isn’t new shorts entering—it’s long positions reducing exposure. Active trade imbalance is -7.2%, buy/sell ratio is 0.87, sell pressure is more actively applied. In the 5m timeframe, Binance liquidations via proxy totaled 246K U, and the sell-side direction is more concentrated.
The funding rate is still in the recent high percentile. The combination here is kind of interesting: a relatively high funding rate suggests longs were previously crowded. Now with OI down and price drifting lower, it looks more like leverage can’t hold itself up first. Whole-pool abnormality #96, nominal change #15—depth confirmation has been checked; this isn’t small-scale action.
In the past 24 hours, spot volume is 365 million U, and liquidity is sufficient. But with this kind of structure, don’t rush to jump in—wait until longs finish deleveraging before taking action.