$Q OI plunged 43.93% in 15 minutes, and the 1-hour figure was just as severe. More than 14 million U in notional value was wiped out. This isn't an ordinary pullback—the longs got carried out. Price fell only 1.53%, but leverage collapsed first: a classic deleveraging event, not distribution. The anomaly percentile is 99.8%, persisting across multiple consecutive periods—a strong confirmation. 24-hour trading volume is still 169 million, the buy/sell ratio is 0.88, and the net taker flow is -6.6%. Selling pressure is there, but it isn't panic selling. The interesting thing is that this kind of OI collapse often bottoms before price does. Once the leverage has been flushed out, what's left is the real positioning. Keep an eye on it; no need to rush in.