$3 million worth of short positions were brutally squeezed out—META’s squeeze is ruthless; the shorts are all “turning off the lights” and taking their losses.

CoinWorld News reports that META continued to rise during the pre-market session, driving shorts to cover and forcing a whale’s $3 million short position to stop-loss. As the whale’s price rose in the pre-market session, its liquidation line was at one point less than 1.7% away from the current price. Within the past half hour, the address was forced to fully close the short position, with an opening (entry) price of $601 and a closing (exit) price of $614, ultimately recording a loss of approximately $60,000. By the time of publication, the META contract trading volume has exceeded $83 million. The whale’s short position had a nominal size of about 1.76 times that of the long positions; the average short entry price was approximately $598.51, which has been surpassed after being pierced by the current price. The entire short camp has collectively fallen into a squeeze-induced floating loss.