LIT short position worth $6.0431 million is only 2.59% away from liquidation, while a whale still holds 1.1386 million LIT

Odaily News: The continued rise of LIT is squeezing short sellers. A whale has gradually closed approximately $3.6652 million worth of short positions, realizing a loss of $622,600, with the remaining position still close to the liquidation price. The whale has initiated a 5-hour TWAP buy order, planning to buy back 969,900 LIT. Before starting, the whale held a short position of 1.8422 million LIT; as of press time, 703,600 LIT have been bought back, completing 72.55% of the plan. Currently, the whale holds a short position of 1.1386 million LIT with 4x isolated leverage, valued at approximately $6.0431 million, with an average opening price of $4.324 and an unrealized loss of approximately $1.119 million. During the same period, LIT was trading at $5.30, approximately $0.1373 or 2.59% away from its liquidation price of $5.4450. The TWAP is still being executed, with 266,300 LIT remaining to be bought back, originally scheduled to end around 17:16 today; subsequent position reductions or margin adjustments may alter the liquidation price.