🚨 Urgent: Liquidation of Short Ethereum Contracts Worth $207 Million in the Last 24 Hours!
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📈 The Most Important News:
* The cryptocurrency market witnessed a massive liquidation of short selling contracts (Shorts) for Ethereum ($ETH) amounting to a whopping $207 million over the past 24 hours.
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💡 What Does This Mean?
* This huge liquidation is a clear indication of a "Short Squeeze", where the rapid rise in Ethereum's price forced traders who were betting on its decline to close their positions.
* This event highlights that strong buying pressure is dominating the market, indicating a significant shift in momentum in favor of the bullish trend and may lead to further gains.
* Such events demonstrate that volatility can be very sharp in the cryptocurrency market, and positions with high leverage are at risk of rapid liquidation.
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❓ Do you think this Short Squeeze will continue to push Ethereum's price to break new resistance levels?
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