Crypto Chaos! SUI Shorts Set to Spark a Market Meltdown 💥

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  • Abraxas Capital’s short positions on BTC, ETH, SOL, HYPE, and SUI were in a floating profit over $55M. Well, someone’s been busy! 💸
  • The weekly candles showed weakness, but holding the $3 zone was as critical as holding your breath before a rollercoaster ride. 🎢

Ah, Abraxas Capital. How they seized the lovely little gift of a market dip to line their pockets with profits from shorting Bitcoin [BTC], Ethereum [ETH], Solana [SOL], Hyperliquid [HYPE], and Sui Network [SUI] on the HyperLiquid exchange. OnChain Lens, ever the attentive observer, caught them in the act. 👀

It was hardly a secret. These two wallets practically screamed, “We expect a nosedive!” The crypto world’s answer to a dramatic soap opera. 📉

Now, for SUI—this short interest sent its price into a lovely downward spiral. Thanks, market sentiment and short sellers. You’re the real heroes here. 💀

Is SUI in a pullback or breakdown? Spoiler alert: Drama’s coming! 💥

As the price dropped to $3.00, SUI faced a dilemma that was almost as nerve-wracking as waiting for your Uber to arrive. Would it bounce back or fall into oblivion? 😬

Signs of a wobble emerged, suggesting bulls might be waiting for the right moment to spring into action. Should SUI reverse from $3, it could gallantly leap back to $4, then make its dramatic return to the top at $5.36. Talk about a plot twist. 😏

But, let’s be real. If $3.00 can’t hold, prepare for a wild ride down to the $2.00 zone, or even worse—the infamous $1.38–$1.50 range. We’ve seen this show before. 🎭

Despite all this drama, the MACD histogram is still green—so not all is lost. There’s still hope for a last-minute comeback. But, watch out—one wrong move, and it could all unravel faster than a badly-written script. 📉

If $3 holds, it could be the comeback story of the year—maybe even hitting $3.90 or $5. Who knew SUI had this in it? 🤫

But if those pesky bears keep causing trouble, we might witness a nosedive into oblivion. Get your popcorn ready. 🍿

If, by some miracle, shorts start covering and things normalize, SUI might just stage a dramatic surge. Hold onto your seats. 🎢

Liquidations: A Sell-Side Drama Unfolds 📉

Now for the real kicker: the liquidation map. Traders are stacked on the sell-side like they’re auditioning for a role in the next big thriller. Over $13.78 million in short liquidations are just waiting for the price to climb into the $3.39 cluster. Someone’s about to have a very bad day. 🥴

This cluster between $3.05 and $3.39 is a veritable pressure cooker, with 10x, 25x, and 50x levered positions. One move past $3.06, and boom—liquidation central. 📉

But wait, there’s more! Below $3.06, a whole bunch of long positions are quietly praying for a miracle. Between $2.70 and $2.95, this is the place where dreams can either come true or crash and burn. The tension is palpable. 🔥

And, of course, the long traders who’ve held onto SUI might soon find themselves looking for the exit. Nothing says “I’m ready to cut my losses” like a sharp price drop. 📉

So, while there may be two factions in this drama, it’s clear that most are betting on SUI taking a dive. Stay tuned for the next episode. 🍿

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2025-06-07 04:10