$BLUR plunged another 1.8% on the 15m, with volume rising to 1.64× average, breaking below the lows of the last 20 5m candles. Interestingly, OI fell along with it, with over 50,000 U in notional value shed in 1h. This doesn’t feel like fresh shorts piling in to drive the price down; it looks more like bulls buckling under pressure, deleveraging, and getting squeezed out by stop-losses. The taker buy/sell imbalance is still positive at 3%, and the buy/sell ratio is 1.06, suggesting there are still buyers stepping in below. With this kind of deleveraging-driven drop, I usually don’t rush to chase shorts. First I’d see whether the price can hold at the range boundary after this leverage flush; if it can’t, then I’d reconsider.