This RLC drop doesn’t look like a simple dump: 15m volume surged to 3.72x, while OI fell along with it — 1h contracts down 1.56%, notional down 479K. Longs are closing, not new shorts opening.
The taker buy/sell ratio is 0.58, so selling pressure is dominant, but the taker volume delta is only -26.5% — selling isn’t especially aggressive. It looks more like stop-losses and deleveraging driving the move. The OI anomaly percentile is 96%, ranked #5 across the whole pool, and it’s persisted for several consecutive periods — a strong confirmation signal.
24h trading volume is 62M, and an 8%-something contraction is relatively significant for this pool. For now, watch whether OI stops falling and stabilizes to see if this deleveraging is over. Don’t rush to catch the falling knife before it’s done.
The taker buy/sell ratio is 0.58, so selling pressure is dominant, but the taker volume delta is only -26.5% — selling isn’t especially aggressive. It looks more like stop-losses and deleveraging driving the move. The OI anomaly percentile is 96%, ranked #5 across the whole pool, and it’s persisted for several consecutive periods — a strong confirmation signal.
24h trading volume is 62M, and an 8%-something contraction is relatively significant for this pool. For now, watch whether OI stops falling and stabilizes to see if this deleveraging is over. Don’t rush to catch the falling knife before it’s done.