$ANIME This drop isn’t complicated—it’s just longs getting flushed out.
A 1.12% drop over 15m isn’t huge, but volume surged to 6.69x, while OI fell 4.35% in an hour. Price down + open interest down: a textbook deleveraging combo. Aggressive trade flow was -21.4%, and the buy/sell ratio was 0.65, making the selling pressure clearly dominant.
The funding rate is still at a high percentile relative to recent levels. Longs had gotten way too crowded, and now they’re simply paying the price. 24h trading volume of 46M can’t absorb this kind of concentrated liquidation, so stop-loss orders are adding to the downward pressure.
OI anomaly percentile: 89.7%, ranked #13 across the entire pool. Unwinds from levels like this usually don’t end in one go, so don’t rush to buy the dip.
A 1.12% drop over 15m isn’t huge, but volume surged to 6.69x, while OI fell 4.35% in an hour. Price down + open interest down: a textbook deleveraging combo. Aggressive trade flow was -21.4%, and the buy/sell ratio was 0.65, making the selling pressure clearly dominant.
The funding rate is still at a high percentile relative to recent levels. Longs had gotten way too crowded, and now they’re simply paying the price. 24h trading volume of 46M can’t absorb this kind of concentrated liquidation, so stop-loss orders are adding to the downward pressure.
OI anomaly percentile: 89.7%, ranked #13 across the entire pool. Unwinds from levels like this usually don’t end in one go, so don’t rush to buy the dip.