$UNI This 15m move looks a bit nasty—the price is down 1.11%, volume has surged to 2.72 times normal, net taker flow is -42.9%, and the buy/sell ratio is 0.40, with selling clearly in control.
But the interesting part is OI: 15m contracts are down 0.28%, and the 1h notional change is -1.39M/-0.80%. Price down + OI down looks more like longs being deleveraged and stopped out than a wave of new shorts entering. The OI anomaly percentile is still at 92.9%, ranking #11 across the pool and #7 for notional change, with the trend persisting across multiple timeframes—position reduction isn't over yet.
Price has already broken below the lower end of the range formed by the most recent 20 5m candles, while the funding rate remains in a high percentile relative to recent levels. In this setup, I'm not rushing to buy the dip; I'll wait for the OI anomaly to ease and net taker flow to narrow. With 239M in 24h trading volume, liquidity is ample, but that also means a real sell-off won't be subtle.
But the interesting part is OI: 15m contracts are down 0.28%, and the 1h notional change is -1.39M/-0.80%. Price down + OI down looks more like longs being deleveraged and stopped out than a wave of new shorts entering. The OI anomaly percentile is still at 92.9%, ranking #11 across the pool and #7 for notional change, with the trend persisting across multiple timeframes—position reduction isn't over yet.
Price has already broken below the lower end of the range formed by the most recent 20 5m candles, while the funding rate remains in a high percentile relative to recent levels. In this setup, I'm not rushing to buy the dip; I'll wait for the OI anomaly to ease and net taker flow to narrow. With 239M in 24h trading volume, liquidity is ample, but that also means a real sell-off won't be subtle.