543K adds to short positions, floating profit of 210k, but the 480 liquidation price is still 33% buffer away from the current price. Is this a bet on earnings reports or purely technical levels?

Crypto World News reports that a whale has increased its short position on GOOGL by 1,502.73 units, approximately $543,466.62, bringing the total position to $5,129,054.98. The average price has decreased from $376.52 to $374.68. Currently, this short position has a profit and loss of +$216,081.59 (+10.45%), with the current price at $359.53 and a liquidation price of $480.39. This address shorted ZEC starting at $184, previously experiencing a floating loss of $21 million, later turning profitable, and recently becoming the largest long position in the S&P 500, with a scale exceeding $70 million.