Looking at the trend of this coin, that big capital player started accumulating positions around the end of October. It's been more than a month now, and while the paper losses might not seem too terrifying, the actual capital cost? I conservatively estimate they've lost several million dollars, and to be more aggressive, it could be over ten million dollars, which translates to a loss scale of at least 70 million RMB. They are still holding their positions and continuing to bleed. Such money-burning gameplay, it takes a lot of strength to endure it, doesn't it?

My judgment is that they probably opened a long position of around 10 million dollars, while the short position is mainly used to attract market attention. From yesterday morning to afternoon, the coin's popularity was actually declining, and trading volume was not very active. But in the evening, once their short position action appeared, it directly pushed the price to around 0.76. The short sellers were caught off guard, with liquidations everywhere.

Honestly, for a capital player of this level to keep losing like this, either they have an incredibly deep reserve of funds, or there's some other purpose behind it.