$SIREN got slammed nearly 7% in this 15m move, but open interest rose instead of falling: +2.33% over 1h and +2.14% over 15m, with volume up to 1.74x. Price down, OI up—a classic sign of leveraged shorts opening positions, not longs giving up and exiting.
What’s interesting is that the active trade imbalance is still +3.9%, with a buy/sell ratio of 1.08, suggesting aggressive buying hasn’t collapsed. Shorts are leaning on the price with resting orders. OI’s abnormality percentile is 87.1%, ranking #10 across the pool, while the notional change ranks #6—not an insignificant position.
24h trading volume is 145 million, so liquidity is sufficient. But with shorts piling in like this, if the price really bounces, the fuel for a short squeeze is right there. Watch whether volume can keep up; whether the shorts can be squeezed will depend on the next 15m candle.
What’s interesting is that the active trade imbalance is still +3.9%, with a buy/sell ratio of 1.08, suggesting aggressive buying hasn’t collapsed. Shorts are leaning on the price with resting orders. OI’s abnormality percentile is 87.1%, ranking #10 across the pool, while the notional change ranks #6—not an insignificant position.
24h trading volume is 145 million, so liquidity is sufficient. But with shorts piling in like this, if the price really bounces, the fuel for a short squeeze is right there. Watch whether volume can keep up; whether the shorts can be squeezed will depend on the next 15m candle.