According to @AltcoinGordon, another of his crypto short positions is underwater, indicating price action has moved against short entries for the referenced assets; source: @AltcoinGordon on X, with the definition of an underwater short referenced from Investopedia. For trading decisions, practitioners monitor three squeeze proxies to quantify risk: funding rates, futures open interest changes, and short-liquidation clusters; source: Binance Research on funding rates, Glassnode on futures open interest, and Coinglass on liquidation heatmaps. Risk management when shorts are underwater typically includes cutting position size, defining clear invalidation levels, and avoiding negative carry from funding during persistent uptrends; source: CME Group education on risk management and Binance Research on funding cost dynamics.