The settlement data I checked the other day was interesting, and it seems that for the first time in a month and a half, the amount of forced liquidations of short positions has surpassed that of long positions. The last time something like this happened was in mid-January, so it’s definitely a rare pattern.

Specifically, the total loss cut amount from the previous day was nearly $700 million, with more than $580 million of that coming from shorts. In other words, this situation indicates that people holding short positions were significantly liquidated. There might be increasing unilateral pressure on short positions.

Is the market trend changing? The fact that short positions are being hit this hard suggests that there is still considerable upward pressure. It might be worth paying close attention.