$BLUR , this drop has some real substance.
15m is down -2.46%, volume has surged to 3.84 times normal, the volatility Z-score is 3.33, and the close has broken below the lows of the past 20 5m candles. Net taker flow is -16.7%, the buy/sell ratio is 0.71, so the selling pressure is genuinely skewed to the downside.
The key thing is that OI is still rising: +0.10% over 1h, with an anomaly percentile of 81%, ranking #13 across the entire pool. Price down + OI up looks more like leveraged new shorts entering than a simple long liquidation cascade.
The funding rate is also at a recent high percentile, so shorts are paying a hefty cost. If the price can't break lower, a squeeze could follow. But with the current range boundary only just broken, chasing shorts doesn't feel comfortable either.
I'll wait and see for now—let the 5m chart confirm a direction first. $BLUR
15m is down -2.46%, volume has surged to 3.84 times normal, the volatility Z-score is 3.33, and the close has broken below the lows of the past 20 5m candles. Net taker flow is -16.7%, the buy/sell ratio is 0.71, so the selling pressure is genuinely skewed to the downside.
The key thing is that OI is still rising: +0.10% over 1h, with an anomaly percentile of 81%, ranking #13 across the entire pool. Price down + OI up looks more like leveraged new shorts entering than a simple long liquidation cascade.
The funding rate is also at a recent high percentile, so shorts are paying a hefty cost. If the price can't break lower, a squeeze could follow. But with the current range boundary only just broken, chasing shorts doesn't feel comfortable either.
I'll wait and see for now—let the 5m chart confirm a direction first. $BLUR