He just needs to lower the price by 1000 points, and I estimate that many people will be liquidated. At the same time, there are many people going long. When both sides are roughly balanced, he can start dumping the market.

$PIPPIN This coin's short contract lost 1.6 million U, among which the small K line lost 150 U, not counting the funding fee. If it weren't for the small K line and this big whale opening a short position, this coin would have dropped long ago. Now the operator is also at a loss; they cannot close their profitable long positions and dare not sell. If they sell, the small K line could wipe out the operator's profits. If they don't sell, they still have to spend money to support the market daily, during which retail investors continue to profit from the price differences. It's unrealistic to explode the small K line now; they have only doubled their position, and the funding fee has come down. I'm just watching if the dog operator is at a loss; as long as the small K line doesn't close their position, the operator dares not crash the market.