The most toxic mutual destruction event of the year is unfolding, and millions of dollars are being incinerated on both sides.
Retail traders are mesmerized by $VELVET 's explosive +37.86% surge to 0.5200000, totally unaware of the horrific $9.87M deadlock currently suffocating 163 whales. The Notional Long/Short Ratio sits at a confusing 87.02%, masking a brutal reality where absolutely nobody is winning. The carnage is unprecedented: 113 short whales are heavily trapped in a $5.27M position from an abysmal 0.379 entry, bleeding a devastating -$1.42M in unrealized losses. But the 50 long whales are also drowning, holding $4.59M from a terribly high 0.607 entry and bleeding -$772K themselves. Both sides are completely underwater.
With 03:16:15 left on the clock, I am positioning myself long because the shorts are carrying a significantly heavier bag of losses. When the breaking point hits and those 113 bears panic-buy to escape their $1.4 million nightmare, the resulting short-squeeze wick will be legendary. Don't blink.