$BAT This setup is pretty interesting.
The price dropped 2% in 15 minutes—not exactly a huge move. But OI jumped 13% in an hour, adding $1.3 million in notional value. That kind of growth rate is unusual for BAT.
I checked the data: OI is at the 99th percentile for abnormality, ranking second across the whole pool. In other words, over this period, only one position in the entire pool has been more extreme. And this has continued across multiple consecutive intervals, with volume 8.8 times the norm.
Price down + OI up rules out longs adding to their positions; it basically means new shorts are entering. The taker buy/sell ratio of 1.06 is fairly balanced, but the 2.9% trade delta shows aggressive sellers are still applying pressure.
BAT is already near a historically extreme level, and now shorts are still piling in. Either someone knows something I don’t, or this could be a spot where a short squeeze takes off.
Keep an eye on it and see when OI stops rising.
The price dropped 2% in 15 minutes—not exactly a huge move. But OI jumped 13% in an hour, adding $1.3 million in notional value. That kind of growth rate is unusual for BAT.
I checked the data: OI is at the 99th percentile for abnormality, ranking second across the whole pool. In other words, over this period, only one position in the entire pool has been more extreme. And this has continued across multiple consecutive intervals, with volume 8.8 times the norm.
Price down + OI up rules out longs adding to their positions; it basically means new shorts are entering. The taker buy/sell ratio of 1.06 is fairly balanced, but the 2.9% trade delta shows aggressive sellers are still applying pressure.
BAT is already near a historically extreme level, and now shorts are still piling in. Either someone knows something I don’t, or this could be a spot where a short squeeze takes off.
Keep an eye on it and see when OI stops rising.