$ERA This chart is getting interesting.
Price dropped 5.62% in 15m, with volume surging to 5.4x, but OI rose instead of falling—1h futures OI climbed 31%, adding over 1M in notional value. This doesn’t look like longs capitulating and exiting; it looks more like fresh shorts piling in.
The funding rate has hit -0.1494%, putting it at the 100th percentile in the near term. With funding this extremely negative, shorts are visibly crowded. The taker flow delta is -9.1%, and the buy/sell ratio is 0.83, so sellers are in control.
It ranks #11 for anomalies across the pool, with OI at the 91.1st percentile for anomalies. The pattern has persisted across multiple intervals, and volume is confirming it. This setup could mean shorts keep adding and pushing the price down—or that fuel is building for a violent short squeeze.
24h trading volume is only 12M, so liquidity isn’t very deep. An extra 1M in OI can already make waves at this depth. With funding this extremely negative, I’m not keen to chase the short.
I’ll keep watching and wait for confirmation of a direction.
Price dropped 5.62% in 15m, with volume surging to 5.4x, but OI rose instead of falling—1h futures OI climbed 31%, adding over 1M in notional value. This doesn’t look like longs capitulating and exiting; it looks more like fresh shorts piling in.
The funding rate has hit -0.1494%, putting it at the 100th percentile in the near term. With funding this extremely negative, shorts are visibly crowded. The taker flow delta is -9.1%, and the buy/sell ratio is 0.83, so sellers are in control.
It ranks #11 for anomalies across the pool, with OI at the 91.1st percentile for anomalies. The pattern has persisted across multiple intervals, and volume is confirming it. This setup could mean shorts keep adding and pushing the price down—or that fuel is building for a violent short squeeze.
24h trading volume is only 12M, so liquidity isn’t very deep. An extra 1M in OI can already make waves at this depth. With funding this extremely negative, I’m not keen to chase the short.
I’ll keep watching and wait for confirmation of a direction.