That’s usually where things get interesting. A market loaded with leverage rarely moves politely. It hunts positioning first and asks questions later.
Short Sellers Become Exit Liquidity
The squeeze arrived quickly. Total liquidations reached $5.84 million during the move, and the overwhelming majority came from bearish traders. Data shows $4.83 million in short positions were wiped out as the rally accelerated.
Short squeezes tend to feed on themselves. Rising prices force short covering, short covering creates additional buying pressure, and suddenly a move that looked impossible a few hours earlier becomes the only thing anyone is talking about.
Crypto has seen this movie before. But, it still sells tickets every time.
Curiosity Marketing Meets Momentum Trading
Part of the demand spike appears linked to the project’s aggressive promotion of its trading application following launch.
The campaign today was not a big one but centered around just the simple message: “99% of traders quit right before checking LAB Mobile one more time.”
It wasn’t exactly a technical breakthrough or a protocol upgrade. But curiosity, momentum, and leverage have built rallies before.
For the LAB price, that combination proved powerful enough to turn panic selling below $7.49 into one of the market’s most dramatic reversals of the day.
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