$ONE This move is pretty aggressive: up +2.53% in 15m. But what really caught my attention was OI—15m contract OI is up +3.32%, and it’s still rising over 1h, up another +1.04%. The notional change is nearing 800,000 U, and the OI anomaly percentile is 97.2%, ranking third across the entire pool. Price up + OI up is a classic sign of leveraged longs entering, not the hollow kind of move driven by short covering.
Funding rates are already at a recent high percentile, and the OI anomaly has persisted for several consecutive periods. With this kind of setup, either a trend is taking off, or longs are getting increasingly crowded at elevated levels. The aggressive trade imbalance is 2.4%, and the buy/sell ratio is 1.05. Buyers have a slight edge, but things aren’t out of control.
24h trading volume is 448 million, so liquidity is sufficient. But with OI at the 97th percentile and funding rates also at a high percentile, I’d personally keep a close eye on it. Don’t get too comfortable chasing the move in extreme territory.
Funding rates are already at a recent high percentile, and the OI anomaly has persisted for several consecutive periods. With this kind of setup, either a trend is taking off, or longs are getting increasingly crowded at elevated levels. The aggressive trade imbalance is 2.4%, and the buy/sell ratio is 1.05. Buyers have a slight edge, but things aren’t out of control.
24h trading volume is 448 million, so liquidity is sufficient. But with OI at the 97th percentile and funding rates also at a high percentile, I’d personally keep a close eye on it. Don’t get too comfortable chasing the move in extreme territory.
