Ethereum Short Squeeze: $183 Million in Shorts Liquidated as ETH Nears $4,200
0
0
- Ethereum price rallied beyond $4.1k, thus revisiting the highest level since December 2021.
- On-chain data shows significant liquidation of ETH short traders amid heightened whale activity.
- The ETH price bullish breakout is bolstered by robust fundamentals amid the anticipated 2025 altseason.
Ethereum just had a massive breakout. The price surged over 7% in the past 24 hours to hit a 44-month high of nearly $4,200 on Saturday.
This powerful move pushed ETH’s market cap back above $500 billion and finally broke the key $4,100 resistance that has capped bullish sentiment since December 2021.
A Brutal $183 Million Short Squeeze
This sudden, violent move upward triggered a massive short squeeze, wiping out bearish traders. In the last 24 hours, over $205 million in leveraged ETH positions were liquidated, with a staggering $183 million of that belonging to short sellers betting on a price drop. This is a clear sign the market was caught completely off guard.
Top Reasons Why Ethereum Price Surged Beyond $4.1k Today
Rising Demand from Whale Investors
According to on-chain data analysis from EmberCN, Ethereum whales have accumulated…
The post Ethereum Short Squeeze: $183 Million in Shorts Liquidated as ETH Nears $4,200 appeared first on Coin Edition.
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
