$ETH
The short liquidation of $58.3K on Ethereum ($ETH ) at a price of $2913.72 indicates a major price movement or squeeze in the ETH market.
When shorts are liquidated, it means traders who bet against the asset (expecting its price to fall) are forced to cover their positions due to the price moving against them. This often leads to a cascade of buying, as liquidations create upward pressure on the price. In this case, the $2913.72 price point likely represents a key level at which a lot of short positions were triggered.
Such liquidations can signal a market reversal or acceleration in the opposite direction, making it a critical moment for ETH traders to watch.
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