The U.S. stock market is experiencing record-high short positions, with total put option volumes surpassing 30 million contracts over the past five days. Analysts point to the VIX volatility index, which is at historically high levels, as a sign of potential market relief. The S&P 500 has lost $5 trillion in value since February 19, marking one of its steepest declines since the 2022 bear market. Monday saw the largest put volume day in history, reflecting heightened bearish sentiment. Some analysts estimate an 89% chance that the market bottom is near. Bitcoin, after hitting a four-month low of $76,600, has rebounded by 4%. Analysts note a bullish divergence in Bitcoin's Relative Strength Index (RSI), suggesting a potential short-term recovery. The Nasdaq 100 futures have also shown signs of stabilization, recovering 0.4% from recent lows. Market observers speculate that the upcoming Consumer Price Index (CPI) report on Wednesday could serve as a catalyst for a potential short squeeze across risk assets.