$40M ETH Shorts Liquidated Why This Happened 🚨
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Aslam mu alakum, hello everyone, how are you? Hope you all will be happy and fine. Today I tell you about big move in Ethereum. In the last 60 minutes, $40 million worth of ETH shorts got liquidated.
Short position means trader is betting that ETH price will go down. But when price starts going up fast, their trade starts losing money. If price keeps rising, exchange will close their trade automatically to stop more loss. This is called liquidation.
This happened because ETH price moved up strongly, maybe from good news in crypto or market reaction to CPI data. When shorts get closed, it can push price even higher because they have to buy ETH to cover their loss.
So, this is good for ETH in short term because big liquidation means less selling pressure and more buying. But traders should still be careful because price can move fast both ways.
Thank you so much for reading. Allah Hafiz.
