Trader @qwatio closed his short positions in Bitcoin (BTC) and XRP, incurring a loss of $3.45 million, as major cryptocurrencies rebounded. The positions were closed with stop-loss orders to mitigate liquidation risks, according to on-chain analyst Yu Jin. Despite the loss, @qwatio reopened a short position in XRP just five minutes later, at a higher price of $2.85 compared to the previous closing price of $2.71. The new position's liquidation price is set at $2.91, which is approximately two percentage points above the current market price.