Two days ago the funding said shorts were terrified of $LSK at +306%. They were paying 1.26% an hour to bet against it. Today that trade is up over 50%, coin's sitting at $0.3718 versus $0.7970 when this first showed up on the radar.
That's the full arc of an overcrowded short squeeze once the squeeze runs out of fuel: the panic bid that spikes price 300% in a day is the same crowd that gets flushed out on the way back down, and the shorts who paid a premium to fight it collected on both ends. Paying 1%+ hourly to short something looked insane at the top. It wasn't.
NFA.
That's the full arc of an overcrowded short squeeze once the squeeze runs out of fuel: the panic bid that spikes price 300% in a day is the same crowd that gets flushed out on the way back down, and the shorts who paid a premium to fight it collected on both ends. Paying 1%+ hourly to short something looked insane at the top. It wasn't.
NFA.
