CXMT: Whale Short Loses $11M as Price Tops $9

CXMT has surged above $9, pushing the whale address 0xf292 shorting 2.9M $CXMT ($26.13M notional) into more than $11M total losses that include $3.82M in funding fees and $7.26M in unrealized losses. The position, tracked on hypurrscan, highlights risks in CXMT price prediction models during rapid perp moves and underscores ongoing crypto perpetuals trading volatility that can quickly erase leveraged shorts. Analysts tracking whale position analysis note the trade now sits deep underwater after the latest leg higher.