AI majors are getting slapped on price, but the positioning/flow is telling a different story.

When you see red candles + rising volume + sticky OI, that’s usually not “everyone capitulated” that’s liquidity changing hands.

Here’s what stands out from the tape:

👉 $TAO: $290 (-3%) - $551M vol (+26%) with OI still ~$202M even after the flush. Heavy participation, not a ghost town.

👉 $NEAR: $1.66 (-4.7%) - $484M vol (+11%) and highest OI on the list (~$248M). If this is “dead,” it’s a very crowded grave.

👉 $ICP: $3.36 (-4.3%) - vol cooled ($224M, -4%) but OI ~$145M still there. Consolidation vibes, not panic.

👉 $FIL: $1.38 (-7.3%) - vol +28% to $406M while OI ~$164M is holding/building. Classic “sell pressure meets demand” zone.

👉 $IP: $2.00 (-6.4%) - vol +18% to $85M, OI ~$50M. Smaller, but flows say it’s being watched.

👉 $FET: $0.24 (-7.5%) - vol + OI both bleeding (OI 24h -10.8%). This one reads like tourists exiting, not accumulation.

👉 $INJ: $5.43 (-3.6%) - vol +9%, OI ~$63M. Quiet bid under the hood.

👉 $VIRTUAL: $0.80 (-6.3%) - mixed signals, OI ~$69M. Needs cleaner follow-through.

👉 $GRT: $0.043 (-3.6%) - vol +32% and OI up +3.6%. Sneaky rotation into “picks & shovels” indexing.

Read-through:
Price red + volume green = the market is doing business, not dying.

The key is whether OI stays (positioning) or evaporates (capitulation).

If I’m ranking purely on “flow says they’re being accumulated” right now: NEAR / TAO / FIL, with GRT as the sneaky one.

Which one are you most bullish on and why?

Follow @degensing for more. NFA, DYOR.