$105M liquidated in just 1 hour and nearly $100M of that came from short positions.
Shorts got aggressively squeezed as price moved against overcrowded downside bets.
This kind of imbalance signals: • Positioning was heavily one-sided
• Liquidity got hunted fast
• Volatility expansion is underway
When shorts get wiped at this scale, it often fuels continuation to the upside as forced buying kicks in.
Stay sharp momentum shifts fast in these conditions.