The cryptocurrency market witnessed a dramatic short squeeze on [Date], with a staggering $964 million in short positions forcibly liquidated. This represents the largest single-day liquidation of short positions in the past four years, according to data from CoinGlass. A "short position" is a bet that the price of an asset will decrease. The massive liquidations indicate a sharp and unexpected price surge in one or more cryptocurrencies, forcing short sellers to close their positions at a loss to avoid even greater financial damage. While the specific catalyst for this massive short squeeze isn't explicitly detailed in the provided information, such events are often triggered by a combination of factors, including positive news sentiment, significant institutional buying, or coordinated "pump and dump" schemes. The event highlights the inherent volatility and risk associated with cryptocurrency trading, particularly when employing leveraged strategies like short selling. This record liquidation serves as a stark reminder of the potential for rapid and significant losses in the crypto market. ```