Another short squeeze for $BERA ?
#Berachain had a spectacular short squeeze last night,
Shorters had piled in, thinking that a token unlock was going to crash the price.
The opposite happened, and we got the lesser-spotted short squeeze instead. #ShortSqueeze
I had an arbritrage bot open, but closed it when the price shot up, to collect some profits.
The Bera price has now settled down, but the funding fee is still over 2000%, suggesting there are still lots of shorts. I'm tempted to buy back in again and see if another squeeze occurs. What do you think?
Trading when funding is over 2000% is extremely dangerous. If you are long, you are earning a fortune in fees. But if the price drops even slightly, your gains may be wiped out by volatility.
Having said that, I've had the $SENT bot open for 2 weeks and already earned 90% of my original investment in funding fees, so it can work well
