$BAT This sell-off is interesting. It’s down 1.62% over 15m, with volume up 1.38x, but OI is falling too—1h futures OI is down 0.87%, with notional value dropping by 259K. Price down + OI down: this isn’t new short positioning; it looks more like longs deleveraging and stop-losses getting triggered. Price has already broken below the lower bound of the recent 20 five-minute ranges. Taker flow is down 37.4%, the buy/sell ratio is 0.46, and selling pressure is clearly one-sided. The anomaly percentile is 88.1%, ranking #15 across the whole pool, and it’s persisted for several consecutive periods—this isn’t noise. 24h trading volume is still a reasonably deep 68M, but with this setup, don’t rush to buy the dip. Wait for the long leverage to clear out first.