According to @DeFiSquared on Twitter, a prominent trader increased his profit and loss (PNL) from $30 million to nearly $82 million through a series of successful trades. The turning point came when he initiated a substantial $1 billion short position on Bitcoin. This move marked a significant shift in market sentiment and introduced high volatility, drawing increased attention from institutional and retail traders. The massive short position has led to heightened liquidations and shifts in funding rates, signaling potential short-term price corrections and increased trading opportunities for active crypto market participants (Source: @DeFiSquared, Twitter).

According to CrypNuevo, all high time frame (HTF) liquidations targeted have been hit, with liquidation DELTA indicating a significant imbalance in long positions, posing a high risk for a potential long squeeze at the $90k main liquidation level.