Trader 0x3bca was fully liquidated on a $7.19 million short position against the SP500 index as markets staged a rebound. The liquidation occurred at the 939.74 level, marking a significant loss for the bearish bettor during the price recovery. The event highlights the risks of leveraged short positions during volatile market reversals. The complete wipeout of the $7.19M position underscores how quickly momentum shifts can eliminate large directional bets in derivative markets.