$TRUMP This drop is pretty brutal: down 4.83% in just 15m, with volume hitting 5x normal levels. The key thing is that while price is falling, OI is rising—1h futures are up 3.02%, at the 99th percentile for unusual activity, ranking #29 across the whole pool. This structure looks more like new leveraged shorts entering than a simple long liquidation cascade.
The close has already fallen below the lows of the last 20 5m candles. Net aggressive trading volume is -20%, the buy/sell ratio is 0.67, and selling pressure is clear. Funding rates are still at a high level relative to recent readings; shorts are paying a hefty cost, but they’re still adding positions. 24h trading volume is 137M, and liquidity is sufficient. Now it’s a matter of whether this level can hold.
The close has already fallen below the lows of the last 20 5m candles. Net aggressive trading volume is -20%, the buy/sell ratio is 0.67, and selling pressure is clear. Funding rates are still at a high level relative to recent readings; shorts are paying a hefty cost, but they’re still adding positions. 24h trading volume is 137M, and liquidity is sufficient. Now it’s a matter of whether this level can hold.