According to BlockBeats, on July 19, The Kobeissi Letter stated in its latest analysis released on Friday that ETH/USD will soon touch $4000. Ethereum is currently brewing a rare short squeeze in crypto history. If the price rises another 10%, $1 billion worth of short positions will be liquidated.
The liquidation of short positions could drive the ETH price up to $4000. The current price of Ethereum is $3553, and its recent price trend has been described as 'making history.' The rise of ETH has triggered a record short squeeze.
Kobeissi stated that as the largest altcoin by market cap, Ethereum is 'punishing' short sellers at an extremely rare pace.
