BTC’s 15m rally came with nearly 5x the volume, and the OI anomaly percentile surged to 97.2%, with the largest notional change across the entire pool—a strong sign that new leveraged longs are entering. But note that 1h OI shows net outflows of -161M; these short-term longs chasing the move aren’t the same traders who reduced positions earlier. The funding rate is already at a recent high percentile, and the 5m liquidation proxy is 8.78M, heavily concentrated on the buy side, suggesting shorts were squeezed. This kind of setup is prone to whipsaws near extreme levels. Chasing higher is possible, but don’t skimp on your stop-loss.