ETH just got hammered again.
A 0.46% drop over 15 minutes may not look like much, but the aggressive trade imbalance was -20.5% and the buy/sell ratio was 0.66—the selling pressure was really hitting the market. On Binance, $209K in liquidations over 5 minutes, with shorts bearing the brunt. The catch is that price fell while OI rose, which looks more like new leveraged shorts entering than a simple long capitulation.
OI fell 1.13% over 1 hour, down $140M in notional value, but the 15-minute notional change was the largest across all pools. What does that mean? Funds are changing hands quickly in the short term: shorts are piling in, and longs are also pulling back.
Price is now stuck at the edge of the recent range. Whether it breaks out or not depends on the next two hours. $ETH
A 0.46% drop over 15 minutes may not look like much, but the aggressive trade imbalance was -20.5% and the buy/sell ratio was 0.66—the selling pressure was really hitting the market. On Binance, $209K in liquidations over 5 minutes, with shorts bearing the brunt. The catch is that price fell while OI rose, which looks more like new leveraged shorts entering than a simple long capitulation.
OI fell 1.13% over 1 hour, down $140M in notional value, but the 15-minute notional change was the largest across all pools. What does that mean? Funds are changing hands quickly in the short term: shorts are piling in, and longs are also pulling back.
Price is now stuck at the edge of the recent range. Whether it breaks out or not depends on the next two hours. $ETH