ORCA Climbs 62%, Wiping Out $1.83M in Shorts

The ORCA token experienced a rapid price increase on February 17, 2026, creating a stark contrast with prevailing market trends. The token's value escalated by more than 62% to reach a one-month peak above $1.62. This abrupt upward trajectory initiated a severe short squeeze, resulting in the forced liquidation of approximately $1.83 million worth of bearish bets against the asset.

Whale Buying and Upbit Demand Fuel Forced Buybacks

The squeeze was not a random market event but was driven by specific, identifiable catalysts. Analysis pointed to a sudden influx of buying pressure from large holders, often referred to as "whales." This initial move was magnified by an unexpected surge in trading activity and demand from traders on the Upbit exchange. As the price crossed key thresholds, short sellers were compelled to buy back ORCA tokens to cover their escalating losses. This wave of forced buying became the primary source of demand, further accelerating the price climb and creating a cautionary example for traders shorting less liquid digital assets.