$ETH just took another leg down, with volume at 1.49x and the taker-flow imbalance at -16.3%—selling pressure is clearly one-sided.
But what’s interesting is that OI hasn’t fallen much; on the 1h, it’s still edging up. Price down, open interest up—that looks more like new shorts entering than longs giving up and exiting.
Binance 5m liquidations came in at 956K, concentrated on the sell side. If price dips a little further while OI keeps rising but the sell-off doesn’t accelerate, stay alert—the shorts may be adding fuel.
But what’s interesting is that OI hasn’t fallen much; on the 1h, it’s still edging up. Price down, open interest up—that looks more like new shorts entering than longs giving up and exiting.
Binance 5m liquidations came in at 956K, concentrated on the sell side. If price dips a little further while OI keeps rising but the sell-off doesn’t accelerate, stay alert—the shorts may be adding fuel.