#CGPT Short Liquidation: $8,706.8 Reversed at $0.27853!
In a stunning twist, CGPT (ChatGPT Token) traders saw a significant $8,706.8 short liquidation at a crucial price level of $0.27853!
The sudden surge has left short-sellers scrambling and sparked a fresh wave of bullish momentum in the market.
Leveraged traders who were betting on a price drop for CGPT were blindsided when the price reversed sharply, triggering the forced closure of short positions at $0.27853.
As these positions were liquidated, the market accelerated upward, sending shockwaves through the trader community and igniting a rapid rally.
Why It’s Significant
1. Short Squeeze in Action: The liquidation of $8,706.8 is a clear example of a short squeeze.
As the price surged above $0.27853, short-sellers were forced to cover their positions by buying back CGPT, which fueled the rally even further.
2. Critical Price Breakthrough: $0.27853 had acted as a resistance level for CGPT.
The fact that it was breached suggests a shift in sentiment, with the bulls now in control—at least in the short term.
3. Market Reversal: The liquidation event has shaken the market and could
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