ETH Short Squeeze Bloodbath! High Win Rate Shorts Lose 20.73 Million in 11 Days, How Brutal is the Trend Suppression?
On-chain Surprising 'Counter Kill Scene': A whale address that shorted ETH with a 75% win rate opened a short on July 28, and by August 3 still held 12.25 million USD in unrealized gains, but due to ETH's continuous surge, was forced to inject 20.98 million USD to maintain the position, ultimately facing liquidation on August 9, with only 250,000 USD left in the account! Losing tens of millions in unrealized gains in 11 days and additionally losing twenty million, this 'trend strangulation' reveals the cruel truth of the crypto world, don't go against the trend head-on.
The Market Undercurrents Behind the Short Squeeze
Short Squeeze: The liquidation of this address exposes the defeat of the 'stubborn faction' of shorts, with on-chain long positions continuously rising and selling pressure drastically decreasing. After ETH broke through 3500 USD, the short squeeze logic is still strengthening; Trend Power: From unrealized gains of tens of millions to liquidation and zero, confirming the cruel rule that 'once a trend is formed, resistance points become entry points for adding positions,' with those chasing shorts becoming 'liquidity fuel' for the market.
What’s Next for ETH? Focus on Two Signals
Watch whether the on-chain short liquidation wave spreads, and observe the inflow of spot funds such as ETFs and institutional movements. Technically, the weekly chart breaks out of the oscillation range, and in the short term, it may sprint towards 4000 USD driven by liquidation sentiment, but caution is needed for potential pullbacks.
The crypto market has different 'contrarian gamblers'. Is this bloodbath a rehearsal for a bull market or a trap for the bulls? Follow me for real-time tracking of on-chain data, and let's talk in the comments: Do you dare to chase ETH long?
