What a miserable guy, being liquidated 4 times in just 14 hours means he immediately rebuilds positions in the same direction after each liquidation.
Then continues to be wrecked, who wouldn't collapse under this pressure!
The self-reinforcing mechanism of a short squeeze—
When the liquidation price of a large short position is predictable, market makers and algorithmic traders have the incentive to push the price toward that level;
The liquidation itself creates new buying pressure, pushing up the price and liquidating the next short.
14 hours and 4 liquidations almost perfectly fit this pattern.
This is called the sunk cost fallacy + the disposition effect in behavioral finance;
And the nature of perpetual contracts allows this mistake to be repeated infinitely, until the margin hits zero!
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