Short sellers are about to be forced to cry! What is happening to the $60 million short position?

What is the biggest pain of shorting?
It's not the loss.
It's watching the price hit new highs every day.
HYPE has recently made many short sellers experience this feeling.
As the price breaks above $72 and continues to hit new record highs, large short positions begin to shrink steadily.
Once short positions worth hundreds of millions of dollars have now decreased to around $60 million.
On the surface, it looks like position reduction.
In reality, it’s more like a survival effort.
Because in the face of a strong trend, sticking to the wrong direction often comes at a huge cost.
The most classic market phenomenon is called a short squeeze.
Price rises.
Shorts cut their losses.
Stop-loss orders push the price higher.
The rise triggers more stop-loss orders.
The cycle keeps reinforcing itself.
Therefore, many surges are not driven by new buying but by forced buying.
The problem is, this kind of market won’t last forever.
When the last short surrender, a new equilibrium will emerge.
Next, the market’s focus will be on whether new funds can continue to step in.
Because what truly determines the trend is not how miserable the shorts are, but how strong the longs are. #Saylor暗示增持BTC