This massive whale short position has now been pushed so hard by the market that it's hard to bear, and $BTC and $ETH 's short floating losses are both expanding. Short-term market behavior is often like this: once the shorts can't hold on, the price will initially surge upward by covering positions. The real thing to watch is whether it will continue to accelerate afterward or if it will be quickly hammered back down after the surge. $BTC $ETH