$PUMPBTC This trade is a bit interesting.
The price of 15m dropped 2.46%. On the face of it, that’s just a normal pullback, but the OI during the same period jumped +6.41%, and in the 1h window it’s even up +14.65%, adding more than 300k U in nominal terms. This isn’t a drop caused by positions being closed off—someone is piling short orders on top of this level.
And the percentile reached 95.4%, the top abnormality in the whole pool. Volume is 86x the usual level. Aggressive volume deviates by -7.2%, the buy/sell ratio is 0.87, and sell pressure has been persistent.
Down + OI up + volume exploding + abnormality staying consistent across several cycles—this is the typical structure of newly opened leveraged shorts. The price is already trading right along its own historical extreme range. At times like this, continuing to chase shorts doesn’t have a great risk/reward setup.
Anyway, I’ll just watch for now. When shorts are crowded at extreme levels, either the move continues—or it becomes fuel for a squeeze. $PUMPBTC
The price of 15m dropped 2.46%. On the face of it, that’s just a normal pullback, but the OI during the same period jumped +6.41%, and in the 1h window it’s even up +14.65%, adding more than 300k U in nominal terms. This isn’t a drop caused by positions being closed off—someone is piling short orders on top of this level.
And the percentile reached 95.4%, the top abnormality in the whole pool. Volume is 86x the usual level. Aggressive volume deviates by -7.2%, the buy/sell ratio is 0.87, and sell pressure has been persistent.
Down + OI up + volume exploding + abnormality staying consistent across several cycles—this is the typical structure of newly opened leveraged shorts. The price is already trading right along its own historical extreme range. At times like this, continuing to chase shorts doesn’t have a great risk/reward setup.
Anyway, I’ll just watch for now. When shorts are crowded at extreme levels, either the move continues—or it becomes fuel for a squeeze. $PUMPBTC