This round of rebound triggers the largest short liquidation since "1011", with $577 million in short positions liquidated in the past 24 hours.
According to ChainCatcher, driven by today's crypto market rebound, liquidations across the entire network in the past 24 hours reached $684 million, with short positions accounting for $577 million. This rebound has also triggered the largest short squeeze since the "1011" crash.
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As US Treasury yields rise, the cost of borrowing short-term Treasuries surges, with traders aggressively building short positions
The US Treasury will conduct auctions of two-year, five-year, and seven-year Treasury bonds next week. Currently, traders are racing to borrow bonds to short them, driving the borrowing costs for short-term Treasuries sharply higher. On Friday, the overnight repo rate for borrowing the current two-year Treasury was about 0.79%, while the rate for the five-year even dropped to as low as -0.85%. In contrast, the repo rate for regular Treasuries was around 3.88%.
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