$ORCA

I’m quite curious why the spot market has surged so much… but there are no signs of shorts being liquidated in the futures market…

I checked and found that the second 5-minute candle after the big surge started showing a -2 funding rate…

By the way, during the second phase of the surge (15:45~18:30), the volume of long liquidations was significantly greater than that of short liquidations…

I have a fantasy that there’s a powerful short player manipulating things… probably betting that there are no other strong capital players that can liquidate them…