POPA Recon$3.35B Liquidated in 24 Hours - and 92% of It Was Shorts
$3.35B Liquidated in 24 Hours - and 92% of It Was Shorts Treasury announced larger long-end buybacks from September 9, then the SEC put out a surprise crypto rule proposal. Trump followed by hosting crypto executives at the White House and pressing Congress to pass the Digital Asset Market Clarity Act - Bitcoin touched $70,000 after his remarks. The rest was mechanical: every forced short closure is a market buy, and each one lifted price into the next cluster of stops. This was the largest wave of short liquidations on record - bigger than the short side of the October 2025 crash, the bigg…
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