Whale's $6.04M LIT Short Position Only 2.59% from Liquidation, Still Holds 1.14M LIT

Odaily News: The rise in LIT continues to squeeze short sellers. A whale has closed out short positions worth approximately $3.67 million in batches, realizing a loss of $622,600, with the remaining position still near the liquidation price. The whale has initiated a 5-hour TWAP buy order, planning to buy back 969,900 LIT. Before starting, the whale held a short position of 1.84 million LIT; as of press time, 703,600 LIT have been bought back, completing 72.55% of the plan. Currently, the whale holds a short position of 1.14 million LIT with 4x isolated leverage, valued at approximately $6.04 million, with an average entry price of $4.324 and an unrealized loss of about $1.12 million. During the same period, LIT was trading at $5.30, about $0.1373 away from the liquidation price of $5.4450, i.e., 2.59%. The TWAP is still executing, with 266,300 LIT remaining to be bought back, originally scheduled to end around 17:16 today; subsequent position reductions or margin adjustments may change the liquidation price.