$AIN This drop is a bit interesting. In the 15m timeframe it’s down 3.49%, but volume is only 0.74x. Volatility Z is 0.43, and it’s a shrinking-volume bearish drift. The real issue is OI: the 15m contract OI is -1.64%, with notional down 1.06M, while on the 1h dimension OI is still +0.41%, with notional +1.47M. This looks like typical short-term long deleveraging: price falls, positions contract—this isn’t being caused by new shorts rushing in to smash the market. Active trades are weaker by -4.1%, buy/sell ratio is 0.92, and sell pressure isn’t especially fierce. But the OI abnormal percentile is 95.6%, the whole pool abnormal is #2, and the funding rate is also hanging in a high percentile recently. The longs were previously squeezed too tightly. Deleveraging that continues across several consecutive cycles isn’t something a single needle can fix. Over the past 24h, turnover is 172M and the pool still feels hot, but under this kind of structure, bounces are likely to be treated as a “get out now” window. No rush to enter—wait until the OI truly stabilizes.