$XMR This spot is a bit interesting.
In 15m, it directly got smashed by 3.17%. The volume was at 2.72x, and the volatility (Z) hit 4.52. The close fell through the lower bound of nearly 20 consecutive 5m candles.
Passive-to-active turnover gap is -42.8%, and the buy/sell ratio is 0.40โthere really is sell-side pressure.
But looking at OI: the 15m contract is +0.26%, yet the notional is -1.58M; and 1h is also only slightly down. The price is falling, while the OI abnormal percentile is pushed up to 96.6%โabnormal
#13 across the whole pool.
This structure looks more like newly added leveraged shorts are pushing, not just a simple long liquidation cascading from a squeeze.
Because notional change and the direction of open interest donโt match, it suggests capital is getting in and out quickly.
Over 24h, turnover is 154M, and the depth is there. The key now is whether, after this breakdown of the lower bound, it can continueโ or whether itโs just another liquidity sweep followed by a quick pullback.
Watch OI changes closely. If shorts keep adding but price stops moving down, then itโs a different story.