$ETHFI These 15 minutes are a bit interesting—the price dropped 1.51%, and the trading volume directly jumped to 3.89x. The volatility Z reached 3.98, clearly someone is making moves.
The key is OI: both the 15m and 1h contracts show a slight increase in open positions, but the notional value is shrinking. Meanwhile, the active trade value difference is -20.5%, the buy/sell ratio is 0.66, and the close even broke below the lower bound of the last ~20 5m K-lines. This structure doesn’t look like long liquidation—it looks more like new shorts coming in with leverage to smash the market. In the depth confirmation, the traded volume, the interval boundaries, and the active direction all line up.
The abnormal entries for the whole pool ranked #24, and the notional change ranked #8—not the most eye-catching. But in a market like ETHFI with 24h turnover under 90M, the signal for this wave of shorts is worth keeping an eye on.
The key is OI: both the 15m and 1h contracts show a slight increase in open positions, but the notional value is shrinking. Meanwhile, the active trade value difference is -20.5%, the buy/sell ratio is 0.66, and the close even broke below the lower bound of the last ~20 5m K-lines. This structure doesn’t look like long liquidation—it looks more like new shorts coming in with leverage to smash the market. In the depth confirmation, the traded volume, the interval boundaries, and the active direction all line up.
The abnormal entries for the whole pool ranked #24, and the notional change ranked #8—not the most eye-catching. But in a market like ETHFI with 24h turnover under 90M, the signal for this wave of shorts is worth keeping an eye on.