$ETH moves upward, forcing a trader who has bet against the price (gone short) to close their position, often at a loss. Here’s a breakdown of the data:

Asset: Ethereum ($ETH )

Type of Liquidation: Short

Liquidation Amount: $50.2K

Liquidation Price: $3390.00

This means a trader placed a short position that was liquidated when ETH’s price reached $3,390, resulting in a forced closure of the position.

Liquidations often occur due to insufficient margin or leverage levels that can't sustain the upward price movement.

Such events are commonly tracked to assess market conditions, as large liquidations may indicate strong buying pressure or cascading stop-loss triggers in highly leveraged markets.

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