This market is getting more and more exciting. As long as Ethereum rises by another 3%, $1.66 billion in short positions will be forcibly liquidated. The short-sellers must be sweating right now; it's like the Sword of Damocles hanging over their heads.

Just think about it, once such a massive short position is liquidated, it will create a terrifying short squeeze. The price of ETH is likely to be pushed to a whole new height in an instant, and breaking the $5,000 mark may not even be a dream.

So, never go against the trend, especially at a time like this when institutions are rushing in and macro sentiment is warming up. Anyone still daring to heavily short ETH now is either not a true warrior or is really looking to take a leap off the rooftop.