OI rises + funding fee is negative + price follows downward, which is actually short sellers increasing their positions and shorting more,

If OI rises + funding fee is negative + price does not fall or moves sideways, it indicates crowded shorts, and the efforts of short sellers are futile, about to trigger a short squeeze.

Another point is that in a bear market, a slightly negative funding rate (around -0.01%) means short sellers are adding to their positions; only extremely negative and sustained negative rates may indicate crowded shorts.
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