QNT: This sell-off is a bit brutal.
On the 15m timeframe, it directly fell -3.97% with volume hitting 4x the average. The buy/sell ratio is 0.74, and active sell pressure is clearly strong. The key is that OI on the 15m is still dropping (-1.09%), with a notional decrease of $2M—this doesn’t look like new shorts entering; it’s more like longs deleveraging, with a rhythm that gets long stop-losses swept.
94% abnormal percentile, entire pool #9; the notional change is among the top four in the whole pool—this places it near the top of the unusual-movers list.
The close broke below the lower bound of the past ~20 five-minute candles, and the funding rate is still at a high percentile recently. With crowded longs + a price breakdown, this is a classic deleveraging-and-washing structure.
In the past 24h, turnover was $770M. Volume is there, but OI is shrinking. Usually this kind of structure won’t resolve in one step. Next, watch whether it keeps deleveraging or whether someone is stepping in. Some leverage has already been cleared—don’t rush to catch the falling knife, and don’t rush to chase shorts either. $QNT
On the 15m timeframe, it directly fell -3.97% with volume hitting 4x the average. The buy/sell ratio is 0.74, and active sell pressure is clearly strong. The key is that OI on the 15m is still dropping (-1.09%), with a notional decrease of $2M—this doesn’t look like new shorts entering; it’s more like longs deleveraging, with a rhythm that gets long stop-losses swept.
94% abnormal percentile, entire pool #9; the notional change is among the top four in the whole pool—this places it near the top of the unusual-movers list.
The close broke below the lower bound of the past ~20 five-minute candles, and the funding rate is still at a high percentile recently. With crowded longs + a price breakdown, this is a classic deleveraging-and-washing structure.
In the past 24h, turnover was $770M. Volume is there, but OI is shrinking. Usually this kind of structure won’t resolve in one step. Next, watch whether it keeps deleveraging or whether someone is stepping in. Some leverage has already been cleared—don’t rush to catch the falling knife, and don’t rush to chase shorts either. $QNT