$Lobster took a pretty decisive hit this time, dropping 2.31% in 15m and closing below the lower end of the past 20 or so 5m ranges.
The key thing is that OI fell too: both 15m and 1h were down around 1.2% to 1.5%, with about 400k U in notional value. Price down, open interest down—that looks more like longs deleveraging and getting stopped out than new short positions piling in. The taker buy/sell delta was -42%, and the buy/sell ratio was 0.41. The selling pressure is real.
What’s interesting is that the OI anomaly percentile hit 93.5%, ranking #1 across the entire pool. When a move like this persists for several consecutive periods and volume is above normal, especially near historical extremes, it often doesn’t end after just one leg.
Keep an eye on it for now—don’t rush to catch the dip.
The key thing is that OI fell too: both 15m and 1h were down around 1.2% to 1.5%, with about 400k U in notional value. Price down, open interest down—that looks more like longs deleveraging and getting stopped out than new short positions piling in. The taker buy/sell delta was -42%, and the buy/sell ratio was 0.41. The selling pressure is real.
What’s interesting is that the OI anomaly percentile hit 93.5%, ranking #1 across the entire pool. When a move like this persists for several consecutive periods and volume is above normal, especially near historical extremes, it often doesn’t end after just one leg.
Keep an eye on it for now—don’t rush to catch the dip.