DYDX This move is kind of interesting.
On the 15m chart, it immediately dumped a bearish candle at 7.55x, dropping 1.34%—closing below the lower bound of the recent 20 5m candles. The key point, though, is OI: on 15m it's -1.16%, and on 1h it's -1.14%. Nominal changes are also shrinking. Price is down while OI is down; this doesn’t look like fresh shorts coming in to smash the market. It’s more like longs are deleveraging, stop-losses are being swept, and positions are being reduced.
Active trade volume is down -25.3%, and the buy/sell ratio is 0.60. Selling pressure is indeed a bit tilted. But the OI abnormal percentile is at 94.2%, which is Pool-wide abnormal #3. Translate this: This action ranks among the earlier anomalies in the whole pool, and it happens to be right near its own historical extreme range.
Funding rates are still high in recent percentiles. Previously, longs were overcrowded; now, when liquidations come, they’re ruthless.
This isn’t a call to short, and it’s not a “buy the dip.” This structure looks more like leverage is changing hands—let OI squeeze out the excess first, then see whether price can hold steady at the lower edge of that range. If it can’t hold, there’s room further down; if it does hold, then this deleveraging is actually a good thing.
Just watch for now. $DYDX
On the 15m chart, it immediately dumped a bearish candle at 7.55x, dropping 1.34%—closing below the lower bound of the recent 20 5m candles. The key point, though, is OI: on 15m it's -1.16%, and on 1h it's -1.14%. Nominal changes are also shrinking. Price is down while OI is down; this doesn’t look like fresh shorts coming in to smash the market. It’s more like longs are deleveraging, stop-losses are being swept, and positions are being reduced.
Active trade volume is down -25.3%, and the buy/sell ratio is 0.60. Selling pressure is indeed a bit tilted. But the OI abnormal percentile is at 94.2%, which is Pool-wide abnormal #3. Translate this: This action ranks among the earlier anomalies in the whole pool, and it happens to be right near its own historical extreme range.
Funding rates are still high in recent percentiles. Previously, longs were overcrowded; now, when liquidations come, they’re ruthless.
This isn’t a call to short, and it’s not a “buy the dip.” This structure looks more like leverage is changing hands—let OI squeeze out the excess first, then see whether price can hold steady at the lower edge of that range. If it can’t hold, there’s room further down; if it does hold, then this deleveraging is actually a good thing.
Just watch for now. $DYDX