This AAVE sell-off is pretty brutal. A 1.48% drop over 15m may not look like much, but volume surged to 6.69x, with a Z-score of 4.23—clear signs of concentrated selling.
OI is down 0.54% over 15m and 0.73% over 1h. Price falling while open interest contracts is typical of longs getting liquidated, not shorts opening. The taker buy/sell volume delta is -20.1%, and the buy/sell ratio is 0.67, showing one-sided selling pressure. The 5m Binance futures liquidation proxy is 204K, with selling more concentrated—stop-loss orders were swept in a wave.
The anomaly percentile is 98%, ranking 4th across the entire pool. This kind of reading is uncommon.
On the other hand, after an unusually high OI reading, deleveraging can sometimes be a shakeout that clears out weak hands. The key now isn't to call a top or bottom, but to see whether this level can hold. 24h trading volume is 113M, and liquidity is still there. Don't rush to a conclusion—wait and see what the next candle does.
OI is down 0.54% over 15m and 0.73% over 1h. Price falling while open interest contracts is typical of longs getting liquidated, not shorts opening. The taker buy/sell volume delta is -20.1%, and the buy/sell ratio is 0.67, showing one-sided selling pressure. The 5m Binance futures liquidation proxy is 204K, with selling more concentrated—stop-loss orders were swept in a wave.
The anomaly percentile is 98%, ranking 4th across the entire pool. This kind of reading is uncommon.
On the other hand, after an unusually high OI reading, deleveraging can sometimes be a shakeout that clears out weak hands. The key now isn't to call a top or bottom, but to see whether this level can hold. 24h trading volume is 113M, and liquidity is still there. Don't rush to a conclusion—wait and see what the next candle does.