$STRK : This 15m move is interesting. Price is up 1.47%, which isn’t outrageous, but volume has surged to 3.36x. OI is up 0.93% over 15 minutes, with $622K in notional positions added, and it’s also rising on the one-hour timeframe. Price up + OI up is typical of new leveraged longs driving the move—not the hollow-looking kind of rally caused by short covering.
At the 97.8th percentile and ranked second across the entire pool, this is worth keeping an eye on—it’s already running close to its own historical extremes. Aggressive trade delta is 16.5%, the buy/sell ratio is 1.40, and the close also poked above the highs of the last 20 five-minute candles. The funding rate is also sitting in a high percentile.
The structure looks good, but with high funding and an extreme percentile, chasing is becoming less attractive. I’d rather see whether this wave of leverage can hold above the range high. If it can’t, those buying now may just be providing exit liquidity for the next wave of traders.
At the 97.8th percentile and ranked second across the entire pool, this is worth keeping an eye on—it’s already running close to its own historical extremes. Aggressive trade delta is 16.5%, the buy/sell ratio is 1.40, and the close also poked above the highs of the last 20 five-minute candles. The funding rate is also sitting in a high percentile.
The structure looks good, but with high funding and an extreme percentile, chasing is becoming less attractive. I’d rather see whether this wave of leverage can hold above the range high. If it can’t, those buying now may just be providing exit liquidity for the next wave of traders.