$ERA This rally is pretty interesting: 15m volume just hit 7x, OI rose 3% over 1h, and notional change was $400k. Price up + OI up—a classic sign of leveraged longs piling in. Taker flow imbalance is 12.9%, and the buy/sell ratio is 1.3. Buyers are genuinely pushing.
But the anomaly percentile across the entire pool is 100%, and notional change ranks #28. Put plainly, this is already in extreme territory. OI has been building over several consecutive periods, and depth confirms volume is above normal. With this kind of setup, either the short squeeze continues, or the crowded longs become fuel for a liquidation cascade.
24h trading volume is only around $25M, so the pool isn't large. When leverage gets crowded, volatility can amplify quickly. It looks great when longs are all piling in, but things can turn just as fast. If you're chasing at these levels, keep your wits about you.
But the anomaly percentile across the entire pool is 100%, and notional change ranks #28. Put plainly, this is already in extreme territory. OI has been building over several consecutive periods, and depth confirms volume is above normal. With this kind of setup, either the short squeeze continues, or the crowded longs become fuel for a liquidation cascade.
24h trading volume is only around $25M, so the pool isn't large. When leverage gets crowded, volatility can amplify quickly. It looks great when longs are all piling in, but things can turn just as fast. If you're chasing at these levels, keep your wits about you.