Meta Pre-market Continues to Rise, Squeezing Out Shorts; One Whale Forced to Liquidate $3 Million Short Position

BlockBeats News, July 2nd, according to Hyperinsight monitoring, Meta's news of bringing in an equivalent of 600,000 H100 GPU hash rate to join the AI cloud and self-operated "selling shovels" business continues to ferment, with Meta itself becoming the biggest winner. On the Hyperliquid platform, META surged by 9.14% in a single day, extending its gains in pre-market trading and is now trading at $614.8.

After the news was released yesterday, a total of three whales on-chain chose to short at a high position and are now deeply in unrealized losses. One of the whales (0x8541), during the pre-market trading when the price continued to rise, saw their liquidation price fall to less than 1.7% from the current price.

In the past half an hour, this address was forced to completely close the short position, with the opening price of $601, a position size of $2.99 million, a closing price of $614, resulting in a loss of approximately $60,000.

As of the time of writing, the META contract's trading volume has exceeded $83 million, with the whale's short position nominal size approximately 1.76 times that of the long position, with an average short position entry price of around $598.51, which has been surpassed by the current price. The bearish camp is collectively facing unrealized losses from being squeezed, with the most recent whale's liquidation price at $675.8 ($1.98 million short position).