$CHIP This chart is getting interesting: price is drifting down, but OI keeps climbing.
Price is down 0.86% over 15m, while OI is up 2.23%; over 1h, OI jumped 5.79%, with a notional change of 1.48M. Price is moving lower as open interest piles up—a classic sign of fresh leveraged shorts entering, not a liquidation-driven flush.
The OI anomaly percentile is 98.4%, ranking #1 across the entire pool; the notional change ranks #8. And this has continued for several periods in a row. That kind of sustained confirmation isn’t just noise from a brief wick—someone is consistently adding to their short position.
The taker trade imbalance is 5.3%, and the buy/sell ratio is 1.11. Buyers aren’t exactly weak, but shorts keep piling on. 24h trading volume is only 10.10M, so the pool isn’t particularly deep; at these levels, a reversal could trigger a squeeze.
It’s getting close to the extreme end of its historical range. The more crowded the shorts get, the more I’m watching for signs of a short squeeze. I’ll keep an eye on it for now—no action.
Price is down 0.86% over 15m, while OI is up 2.23%; over 1h, OI jumped 5.79%, with a notional change of 1.48M. Price is moving lower as open interest piles up—a classic sign of fresh leveraged shorts entering, not a liquidation-driven flush.
The OI anomaly percentile is 98.4%, ranking #1 across the entire pool; the notional change ranks #8. And this has continued for several periods in a row. That kind of sustained confirmation isn’t just noise from a brief wick—someone is consistently adding to their short position.
The taker trade imbalance is 5.3%, and the buy/sell ratio is 1.11. Buyers aren’t exactly weak, but shorts keep piling on. 24h trading volume is only 10.10M, so the pool isn’t particularly deep; at these levels, a reversal could trigger a squeeze.
It’s getting close to the extreme end of its historical range. The more crowded the shorts get, the more I’m watching for signs of a short squeeze. I’ll keep an eye on it for now—no action.