According to Lookonchain, two major crypto wallets, 0x51d9 and 0x5D2F, have collectively opened $137 million in high-leverage short positions against BTC, with 40x leverage and liquidation prices set at $105,690 and $112,660 respectively (source: Lookonchain, May 12, 2025). Such substantial leveraged shorts increase the risk of volatility spikes and potential short squeezes, which could drive rapid BTC price movements. Active traders should closely monitor these positions, as forced liquidations at these price levels may trigger significant volatility in the cryptocurrency market.