During a "short squeeze" there is a phrase longs don't want to hear. They begged me not to utter the words, but I must say it anyway.
"Looks pretty squoze to me"
That's how a short squeeze ends. The desperate shorts got their big chance to close off at breakeven, and now the tables have turned alltogether. It has shifted from a short squeeze to a long squeeze. The fact is that although there is something like $20 million worth of short exposure on CEL, there is more like 1 BILLION dollars of long spot exposure to CEL. The longs claim to be loyal to their cause of "squeezing" the shorts, but at the end of the day all capital in crypto is mercenary and they will sell when they know all is lost.
This is the sad fact of the "short squeeze" is that even during a "retail movement" retail ALWAYS loses. Most fools are still holding, expecting prices to increase to $100. They don't have a fundamental understanding of the truth about how markets work. Every move has a narrative, but all narratives are irrelevant to the market. The marks don't have an exit plan. The second prices started to fall, they started selling. Many are still holding at a big loss after buying the top, and just want out at breakeven.
The goal of the market could be phrased like this:
To Cause The Most Pain To The Most People
And assuming that is true, it makes perfect sense for CEL to fall down massively now that it has gotten as many people as possible to buy and also caused the majority of the retail shorts to close. CEL going down would cause far, far more pain for retail than CEL rising, since almost all of them are long and just hoping for price to rise.
In this way, the market is the exact inverse of perfect utilitarian good wheras retailers seem to think the opposite. They think that the market is a utilitarian good designed to print free money for them.
I've seen some Tweets on Twitter from CEL "squeeze" cultists who are effectively saying the words "return to normal" without saying them. They think it's back to up only. They are in for a shock. The music stopped playing, and now they will be left with bags full of dog shit.
welcome to zero? you mean welcome Hero. Price target $100 - $420. don't tempt fate. Saw how FTX got buried for playing with perps? yup thats it. The shorters will be panicking soon as Celcius begins re-organization (internally), 5.3 million CEL tokens locked up in FTX bankruptcy. oooh, i can here the screams now. Cascading shorts soon :)
bowtrix
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@shoriline, 0.77% of the supply will sure make it pump, bozo.
You are really not much more intelligent then the LUNC pumpers who thought the same thing and were dead wrong. Think for yourself, sheep.
shoriline
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@bowtrix, ooff... stop pretending to be analytic. We know how paid some are with regards to shilling or dissing tokens. how much they pay you really?
bowtrix
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@shoriline, You fools paid me something like $5,000 to short CEL by buying it from me, if that's what you meant. But other than that, I'm not paid. In effect, you paid me.
I'm not even short anymore. Been closed. No shorts left to squeeze, bozo. Gamestop nerd.
shoriline
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@bowtrix, lets bet 10 BTC. we do an escrow. 10 BTC says CEL will reach $10 by EOY. deal? lets go
@bowtrix, that is what a scared child would say. If you're not up to a wager, just say so. Don't be a bitch about what i have and don't have. So i'm gonna ask you another time, Bet or stfu.