A market rebound of approximately 4% occurred at 3 a.m., leading to significant financial impacts for traders. According to PANews, the trader identified as 0xD83…Fd7 experienced a liquidation of one-third of their short positions, initially valued at around $332 million. This resulted in a sharp decrease in floating profits from $24 million to $4 million. High-leverage rolling strategies are highly sensitive to price movements, which can quickly erase profits or lead to losses. The trader has since partially replenished their short positions and currently holds approximately $266 million in short positions.