$Q surged more than 5 points in this 15-minute period, with volume jumping to 3.5 times normal, while OI was actually falling—down 4.26% over 15m and 4.38% over 1h. That’s a classic price-up, open-interest-down pattern, strongly suggesting shorts are covering. Liquidations hit $250K over 5 minutes, with buying pressure more concentrated; aggressive trades showed a 12.2% imbalance, clearly favoring buyers. The anomaly percentile is 93.3%, ranking 11th across the entire pool and 3rd for notional change—already brushing up against historical extremes. This setup looks more like what I’d call a short squeeze than fresh longs entering, so be careful chasing the move in case the rally runs out of steam once the covering is over.