$VVV This drop is interesting—the price fell 1.93%, but OI also contracted at the same time, with a notional change of -424K. This is a classic case of longs deleveraging, not new shorts entering to drive the price down.
Trading volume expanded 2.23x, the aggressive trade imbalance was -8.4%, and the buy/sell ratio was 0.84, indicating genuine selling pressure. The close also fell straight below the lower bound of the past 20 or so 5m candles, suggesting the short-term structure may have broken down.
The funding rate is still in a high percentile for recent history, and the OI anomaly percentile is 98.2%, ranking #22 across the entire pool—the positioning is crowded, and the squeeze-out of longs may not be over yet. Shorting here offers only average risk-reward; wait for deleveraging to finish, then see whether support can be found in an extreme zone.
Trading volume expanded 2.23x, the aggressive trade imbalance was -8.4%, and the buy/sell ratio was 0.84, indicating genuine selling pressure. The close also fell straight below the lower bound of the past 20 or so 5m candles, suggesting the short-term structure may have broken down.
The funding rate is still in a high percentile for recent history, and the OI anomaly percentile is 98.2%, ranking #22 across the entire pool—the positioning is crowded, and the squeeze-out of longs may not be over yet. Shorting here offers only average risk-reward; wait for deleveraging to finish, then see whether support can be found in an extreme zone.