Crypto classic: closing a short in the red an hour before..:
Dude from X (Twitter) just closed his public short at $LAB with a massive loss of -$3.4 million. To top it off, he also got hit with a $864,000 loss purely from that crazy funding rate.
The juiciest part is that the chart tanked exactly an HOUR after he exited his position.
"...2.5% on fundingโthat's just madness. I would have held on longer and waited for this drop, but it just didnโt happen... I learned a lot from this trade. Iโll definitely be back to scoop my profit again."
โ he wrote in a post.
And exactly one hour later, THAT SAME DROP happens.
Such perfect timing of pain and liquidity is probably only possible in crypto. A great illustration of how the market patiently waits to shake out the last big short seller before finally taking off in the right direction.
Dude from X (Twitter) just closed his public short at $LAB with a massive loss of -$3.4 million. To top it off, he also got hit with a $864,000 loss purely from that crazy funding rate.
The juiciest part is that the chart tanked exactly an HOUR after he exited his position.
"...2.5% on fundingโthat's just madness. I would have held on longer and waited for this drop, but it just didnโt happen... I learned a lot from this trade. Iโll definitely be back to scoop my profit again."
โ he wrote in a post.
And exactly one hour later, THAT SAME DROP happens.
Such perfect timing of pain and liquidity is probably only possible in crypto. A great illustration of how the market patiently waits to shake out the last big short seller before finally taking off in the right direction.