This CKB selloff is pretty brutal. It dropped 2.28% in just 15 minutes, with volume surging to more than 10 times the norm. Net taker flow was -21.6%, and the buy/sell ratio was 0.64—the selling pressure was very real.
The key is OI: 15-minute contract OI fell 1.75%, with notional value down 81K U, but the 1-hour figure is still up 2.12%. Leverage is coming off in the short term, while positions are still being added on the hourly timeframe. The OI anomaly percentile is 96.2%, ranking #3 across the entire pool. I don’t need to spell out what an extreme like this usually means.
Price down + OI down is a classic long-stop-loss/position-reduction pattern, not a dump driven by new shorts entering. 24-hour trading volume is only 9.45M, and liquidity is thin. With volume spiking like this and aggressive selling, slippage is likely to be ugly.
We’re nearing historically extreme levels. First, let’s see when this round of deleveraging stops. Don’t rush to buy the dip.
The key is OI: 15-minute contract OI fell 1.75%, with notional value down 81K U, but the 1-hour figure is still up 2.12%. Leverage is coming off in the short term, while positions are still being added on the hourly timeframe. The OI anomaly percentile is 96.2%, ranking #3 across the entire pool. I don’t need to spell out what an extreme like this usually means.
Price down + OI down is a classic long-stop-loss/position-reduction pattern, not a dump driven by new shorts entering. 24-hour trading volume is only 9.45M, and liquidity is thin. With volume spiking like this and aggressive selling, slippage is likely to be ugly.
We’re nearing historically extreme levels. First, let’s see when this round of deleveraging stops. Don’t rush to buy the dip.