💥 SHORT SQUEEZE: $198M in $ETH Shorts Liquidated!
In a powerful market move, nearly $200 million in Ethereum short positions were liquidated in the last 24 hours.
This is a key event that signals a massive short squeeze is underway. As $ETH price surged, traders who were betting on a price drop were forced to buy back their positions, which in turn fueled the rally even further.
Why this is a big deal:
Fueling the Fire: Liquidations create a cascade effect. As one short position is liquidated, the forced buying action pushes the price up, which triggers more liquidations, and so on. This creates a powerful upward momentum.
Conviction is Key: This move shows that the bulls are in control. Despite the recent market choppiness, there is strong underlying demand for Ethereum.
Potential for Parabolic Moves: The scale of these liquidations indicates that a significant amount of leverage was on the short side. With that selling pressure now gone, the path for $ETH to reach new highs is much clearer.
This is a classic example of why trading against a strong trend can be extremely risky. The market will always punish those who stand in the way of a major rally.
What do you think? Are we heading for a major ETH rally now?
