One trader lost $15.8 million on a 25x leveraged short position and is still $3.3 million underwater. A massive short squeeze is underway, with over $76 million in $ETH shorts liquidated in the past 24 hours.
Key Stats:
- Current Price: $4,171.29
- 24-Hour High: $4,200.00
- 24-Hour Low: $3,884.44
- Market Cap: $428.84 billion
What's Behind the Surge?
- Institutions are fueling the fire, with $ETH ETFs attracting $9.5 billion in inflows and a single-day record of $727 million.
- On-chain signals point to $4,900 as the next key target, mirroring past rallies where ETH doubled in value.
Potential Liquidations:
- A sustained break above $4,000 could trigger another $331 million in liquidations.¹