$ETH SHORTS ARE AT A 51-MONTH HIGH… AND THEY'RE GETTING WIPED OUT 😳
This is wild.
Bitfinex had around 73,056
$ETH worth of shorts recently — the highest level in about 51 months.
Those shorts jumped roughly 280% in one week.
Then today…
💥 $11.28M in ETH shorts got liquidated in ONE HOUR.
And ETH only moved about 0.7% during that hour.
For anyone new to trading:
You don't need ETH to crash for a short to lose.
Sometimes the price moves slightly against a heavily leveraged position…
…and the exchange closes it for you. 😭
That's why I'm watching the chart now.
📊 Open
$ETH and look at the $2,700 area.
Are we seeing the beginning of a short squeeze…
or are these shorts just getting cleared before the next move?
What do you see on the chart? 👇
#ETH #Ethereum #Crypto #Binance #Trading #CryptoBeginners
#ShortSqueeze #EarningsSeason #BitwiseLaunchesFirstSpotNEARETF