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Alex_Trade✔️
The short squeeze didn’t remove leverage.
It moved it.
~$648M in shorts were liquidated during the rebound.
Yet futures open interest then climbed ~7.6% to around $156B.
That’s the part most liquidation charts miss.
The market didn’t simply deleverage.
New risk entered after the squeeze.
Now Friday’s expiry removes another huge block of positions.
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