“Set 10 big goals” and then cut losses. This name is quite fitting—no matter how big you set the targets, leverage is the first to be unable to hold.
On August 20, he reduced his position by 1,169.625 BTC and 24,684.515 ETH short contracts. He still has 1,066 BTC and 4,632 ETH, with unrealized losses exceeding USD 2 million.
Unrealized losses aren’t the point. The point is that the act of cutting losses itself adds fuel to the market. When short positions are stopped, they must be bought back—and buying back is buying demand. In this rebound, there’s a batch of buy orders; it’s not new money coming in—it's the shorts being forced to carry the sedan themselves. The higher it rises, the more it hurts; the more it hurts, the more they buy.
He hasn’t finished exiting yet. With 1,066 BTC and 4,632 ETH still left and still sitting in unrealized losses, it suggests he’s hesitating, or he hasn’t fully admitted defeat. If the price pushes higher again, these short positions will eventually become buy pressure.
What you really need to be wary of is what comes next: once all these big shorts have been fully closed and the squeeze fuel has burned out, the price may lose momentum.
On August 20, he reduced his position by 1,169.625 BTC and 24,684.515 ETH short contracts. He still has 1,066 BTC and 4,632 ETH, with unrealized losses exceeding USD 2 million.
Unrealized losses aren’t the point. The point is that the act of cutting losses itself adds fuel to the market. When short positions are stopped, they must be bought back—and buying back is buying demand. In this rebound, there’s a batch of buy orders; it’s not new money coming in—it's the shorts being forced to carry the sedan themselves. The higher it rises, the more it hurts; the more it hurts, the more they buy.
He hasn’t finished exiting yet. With 1,066 BTC and 4,632 ETH still left and still sitting in unrealized losses, it suggests he’s hesitating, or he hasn’t fully admitted defeat. If the price pushes higher again, these short positions will eventually become buy pressure.
What you really need to be wary of is what comes next: once all these big shorts have been fully closed and the squeeze fuel has burned out, the price may lose momentum.