The Cruel Truth of Leverage - The Market Truth Behind the 380 Million Short Positions Bloodbath

$379 million in short positions liquidated, $193 million focused on Ethereum – this is not just a simple number game, but a collective nightmare for leveraged traders. When the price of Ethereum surged past the $4700 mark like a runaway horse, countless short sellers quietly exited this wealth redistribution game.

The most striking is the giant whale with 20x leverage short positions: an emergency margin call of 5.22 million USDC and a floating loss of 14 million USD, vividly illustrating the double-edged sword nature of high-leverage trading. This is not a battle of luck, but the ultimate test of the depth of market understanding.

The chain reaction of liquidation unfolds like a domino effect: every time it breaks through $100, it triggers $20 million in forced liquidations, with a positive feedback loop pushing the price into higher dimensions. The imbalance created by the $6 billion long liquidation risk and the $2.8 billion short positions risk sets the stage for this massacre.
The price discovery phase from a technical perspective is often the most brutal—without clear resistance levels to guide them, shorts are like blind men trying to feel an elephant, searching for stop-loss points. This $380 million liquidation serves as a reminder to every market participant: in the crypto world, respecting the market is always the first rule of survival. #加密市场反弹#