$LINK These 15 minutes had some real action.
The price is up 0.6%, which doesn’t look like much, but volume surged to 4x. The taker buy/sell ratio hit 3.37, showing some seriously aggressive buying. The key thing is that OI rose in tandem—+0.7% over 15m and +0.63% over 1h—with notional value up nearly $2 million. Open interest is at the 99th percentile for abnormality, ranking second across the entire pool.
This doesn’t look like simple short covering; it looks more like new leveraged longs piling in.
On the 5m chart, price just broke through the highs of nearly 20 candles. It’s continued over several consecutive periods, so this isn’t just a single wick. With $130 million in 24h volume, liquidity is solid. If this breakout holds, plenty of traders will chase it.
We’re approaching historically extreme levels, so keep an eye on it. Either the move continues, or it’s just handing liquidity to the shorts.
The price is up 0.6%, which doesn’t look like much, but volume surged to 4x. The taker buy/sell ratio hit 3.37, showing some seriously aggressive buying. The key thing is that OI rose in tandem—+0.7% over 15m and +0.63% over 1h—with notional value up nearly $2 million. Open interest is at the 99th percentile for abnormality, ranking second across the entire pool.
This doesn’t look like simple short covering; it looks more like new leveraged longs piling in.
On the 5m chart, price just broke through the highs of nearly 20 candles. It’s continued over several consecutive periods, so this isn’t just a single wick. With $130 million in 24h volume, liquidity is solid. If this breakout holds, plenty of traders will chase it.
We’re approaching historically extreme levels, so keep an eye on it. Either the move continues, or it’s just handing liquidity to the shorts.
