According to @ai_9684xtpa, MYX briefly wicked to 8 dollars after a 4.78 million dollar short position was forcibly liquidated, triggering rapid buy pressure and a sharp price spike (source: @ai_9684xtpa on X). Binance derivatives open interest fell by 6 million tokens during the move, and the price subsequently retraced to 6.3 dollars (source: @ai_9684xtpa on X).

According to Miles Deutscher, the recent Sunday night experienced the heaviest liquidation wick observed since September 2024. This event was followed by a profitable bounce the next day. Miles highlights that peak fear in the market often translates to peak opportunity, and he capitalizes on these opportunities by going heavy on extreme red days. Members of the @mileshighclub_ reportedly executed well-timed entries.