Short sellers suffer a loss of 430 million! The three major truths behind ETH's violent breakthrough of 2600 exposed

ETH surged 40% in just three days, strongly standing above 2600 USD, with short sellers facing brutal liquidations amounting to 430 million USD. This is not a fleeting moment but the prelude to the restart of a bull market!

1. Dual-core ignition of technology + policy

Ethereum has just completed the Pectra upgrade, increasing the staking limit, introducing account abstraction, and making wallet operations smoother, with a comprehensive evolution of user experience.

At the same time, the international situation is supportive, with trade agreements between the US and UK, and easing negotiations between China and the US, resulting in a rapid recovery of risk appetite and a large influx of capital into the crypto market, leading ETH to directly take off under the dual benefits!

2. Short sellers face liquidation, whales are buying, the short squeeze has begun

From May 8, short sellers of ETH faced liquidations amounting to 430 million USD, far exceeding the longs. Under the violent rise, short sellers were forced to close positions, causing the price to soar even higher.

On-chain data shows that large holders holding over 10,000 ETH started quietly building positions as early as the end of April, and their holdings have reached a new high this year. The silent entry of whales indicates that the market has just warmed up!

3. Institutions are aggressively purchasing ETFs, ETH has become the new favorite

Ethereum ETFs are beginning to attract a frenzy of capital. BlackRock's iShares ETH Trust has raised 500 million USD in just one week, with a total amount soaring to 2.6 billion. Compared to last year's Bitcoin ETFs, this year ETH is the focus of capital!

With the explosion of ecosystems like DeFi, NFT, and AI, ETH is not just a coin but the cornerstone of crypto applications, and its practical value is making institutions eager to layout.

Summary by Big G: 3000 is not a dream, holding steady is the way to go!

This wave of ETH market is not short-term speculation, but a result of the triple resonance of technology, sentiment, and capital. Short-term fluctuations are normal, but the real explosion has just begun.

Don't easily get off the train; the bull market never waits for anyone!