$ETH Short Liquidation: $9.6979K at $3,469.73
Ethereum (ETH) ignites excitement in the crypto market as it surges to $3,469.73, triggering a short liquidation worth $9,697.9.
This massive shakeout leaves bearish traders scrambling, highlighting the power of $ETH 's upward momentum and the risks of betting against the second-largest cryptocurrency.
1. ETH Price Surge: Ethereum’s price climbed sharply to $3,469.73, surpassing key resistance levels and catching short sellers off guard.
2. Short Liquidation Explained: Traders who bet on ETH’s decline were forced to close their positions as prices surged beyond their liquidation points.
This created additional buying pressure, fueling ETH’s rally even further.
3. Magnitude of Liquidation: With nearly $9.7K in short positions wiped out, this marks a significant event, amplifying the bullish momentum.
Why This Is Significant
Major Liquidation: The $9.7K liquidation highlights the size of leveraged bets against ETH and the market’s ability to punish overly bearish positions.
Market Sentiment
#Binance250Million #BinanceAlphaAlert #BTCRebounds95K #XRPBackInTop3 #BitcoinInSwissReserves