Yesterday, Ethereum (ETH) crossed the critical $2,700 price level, triggering a major Binance ETH short liquidation event.
The liquidation event occurred as Ethereum breached the critical $2,700 resistance level, which had been a concentration point for short positions.
ETH’s Breakthrough & Short Liquidation (Binance Liquidation Delta):
As illustrated in the liquidation delta chart, the liquidation spike near $2700 eliminated over $50 million in short positions, triggering a cascade of stop-loss orders on these positions.
The liquidation heatmap identifies the $2700 zone as a high-liquidity cluster, confirming it was a prime target for liquidation runs.
Rising Derivatives Exchange Reserves:
shortly after this sharp move, more than 144,000 ETH flowed into derivatives exchanges.
The inflow of ETH to derivative exchanges typically signifies that traders are preparing to initiate or expand short positions.
Whale Activity :
The Whales Screener reveals significant market movements.
* Over $580 million in Bitcoin netflow from whale wallets
* More than $470 million in Ethereum netflow from whale wallets
Final Thoughts:
Traders and investors should remain vigilant: rising exchange reserves can act as both fuel for new short positioning.
At the same time, whales are taking chips off the table, which could hint at a short-term peak forming.
Written by Amr Taha
