REKT: Short sellers lost over $102M in just 24 hours. Almost 50% of that coming from TUT's 117% rise.

What happened

Short sellers lost more than $102 million in a single day, and almost half of those losses came from the cryptocurrency TUT after its price jumped 117 percent.

Confirmed

Global impact / market context

The loss shows how quickly short positions can be wiped out when a token spikes, hurting traders’ capital and possibly prompting tighter risk controls across crypto markets.

Analyst inference

Crypto markets have seen several rapid price surges this year, and short‑selling—betting a price will fall—has become riskier as volatility rises and liquidity can disappear quickly.

Analyst inference

What to watch

1. Whether TUT can sustain its 117 % rise or if the price will reverse, which will directly affect remaining short positions and overall market sentiment. Confirmed
2. Changes in short‑interest levels on TUT and similar tokens, as rising short exposure could amplify future price swings. Analyst inference
3. Any regulatory statements or platform rule changes concerning short selling in crypto, which could alter how traders manage risk. Proposed

Affected assets

• TUT — Tutorial

Evidence

• x.com