What a miserable guy, being liquidated 4 times in just 14 hours means he immediately rebuilds positions in the same direction after each liquidation.

Then continues to be wrecked, who wouldn't collapse under this pressure!

The self-reinforcing mechanism of a short squeeze—

When the liquidation price of a large short position is predictable, market makers and algorithmic traders have the incentive to push the price toward that level;

The liquidation itself creates new buying pressure, pushing up the price and liquidating the next short.

14 hours and 4 liquidations almost perfectly fit this pattern.

This is called the sunk cost fallacy + the disposition effect in behavioral finance;

And the nature of perpetual contracts allows this mistake to be repeated infinitely, until the margin hits zero!

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