Ethereum is making history
We are witnessing one of the largest short squeezes in cryptocurrency history. Since July 1, Ethereum's market cap has skyrocketed by $150 billion—just a few days ago, net short positions had just reached an all-time high.
In the 30 days leading up to July 1, BlackRock ETF increased its holdings in Ethereum for 29 days. However, as mentioned earlier, due to a sudden surge in leveraged short exposure, prices continued to decline. Clearly, there was 'smart money' anticipating this storm.
Now we are witnessing: billions of dollars in short positions being liquidated in succession. If Ethereum rises another 10%, another $1 billion in short positions will be liquidated.
Additionally, since most of these short positions are leveraged, the market is facing stronger short-squeeze pressure.
Ethereum may soon reach $4,100.
Did not run at $3,800, profits have pulled back, but I still hold firmly
Watch today: uni, aapt, ethfi, sui, link, sol
