According to @EmberCN, a major whale closed a short position of 115,000 SOL (worth $20.13 million) just before liquidation, suffering a realized loss of $1.05 million (-86%). The whale closed the position at $175 per SOL as the price approached the liquidation threshold. This significant short squeeze highlights strong bullish momentum for Solana, signaling potential risk for traders holding large short positions. Such large-scale liquidations often contribute to increased volatility and upward price pressure in crypto markets. (Source: @EmberCN via Twitter, Bitget)

According to @Tetranode, following the liquidation event on February 2nd, the Fx protocol is supported by 7 keepers, with plans to add 2 more. Additionally, the protocol is in the process of onboarding several Cowswap solvers, which could enhance trading efficiency and stability in future liquidation scenarios.

According to Cas Abbé, Bitcoin's spot selling pressure has now surpassed levels seen during the FTX crash. Despite this increase in selling pressure, BTC's price remains resilient above $95K, indicating potential seller exhaustion. This resilience amidst high liquidation events suggests a possible stabilization or reversal in the market. Cas Abbé's analysis highlights the critical nature of these developments for traders.