The hedge funds would struggle at $500 or $1,000. In their mind, they are fukked no matter what so they might as well delay until all resources are exhausted.
Imagine being in the 10th round of a heavyweight championship fight. You've lost rounds 1 - 9 either "10-9" or "10-8" and EVERYONE knows, even your own corner.
For rounds 10 to 12....there's no point in trying to box for the decision. Your only chance is to fight for a KO or stoppage. You've most likely already lost but you've got nothing left at this point. Hedge funds are just swinging now. They're trying to knock us out with wild haymakers.