Settlement price 1235, current price 634, seems safe, but what can never happen in the crypto market

CoinWorld News reports that the ZEC short position has increased by 1,041.05 coins, approximately $2,079,442.57, with the total position reaching $12,455,493.14. The average price has been adjusted from $489.90 to $494.88. Currently, the unrealized profit and loss for this short position is -$2,734,598.68, with a loss ratio of -109.77%. The current ZEC price is $634.10, and the liquidation price is $1,235.28. This address started shorting ZEC at $184, once experiencing an unrealized loss of $21 million, then turning profitable, and recently becoming the largest long position in the S&P 500, with a scale exceeding $70 million.