$APR This sell-off is pretty ugly.
It plunged nearly 5% in just 15m, with volume more than tripling its usual level, but OI actually contracted—down 32K in notional terms over an hour and 156K over 15m. This isn’t new shorts entering; longs are being forced out. Aggressive trade imbalance was -21.3%, the buy/sell ratio was 0.65, and the order book was full of passive bids absorbing the selling.
Price has already broken below the lows of nearly 20 recent 5m candles and is getting close to its own historical extreme zone. The anomaly percentile is 95.6%, ranking 4th across the whole pool. At levels like this, it’s often not over—it’s just starting to hurt.
24h trading volume is only 11.68M, and the pool is shallow, so a single wick can cast a long shadow. Don’t rush to buy the dip; the tail end of deleveraging usually lasts longer than the initial drop.
It plunged nearly 5% in just 15m, with volume more than tripling its usual level, but OI actually contracted—down 32K in notional terms over an hour and 156K over 15m. This isn’t new shorts entering; longs are being forced out. Aggressive trade imbalance was -21.3%, the buy/sell ratio was 0.65, and the order book was full of passive bids absorbing the selling.
Price has already broken below the lows of nearly 20 recent 5m candles and is getting close to its own historical extreme zone. The anomaly percentile is 95.6%, ranking 4th across the whole pool. At levels like this, it’s often not over—it’s just starting to hurt.
24h trading volume is only 11.68M, and the pool is shallow, so a single wick can cast a long shadow. Don’t rush to buy the dip; the tail end of deleveraging usually lasts longer than the initial drop.