Ethereum Surge Crushes Bears: ETH Rally Above $4K!
On Friday, Ether’s price topped $4,000, resulting in the biggest short position wipeout of the day across all cryptocurrency assets. According to some analysts, this might be preparing for a short squeeze. Additionally, US President Donald Trump’s son, Eric Trump, made fun of bearish traders during the surge.
It puts a smile on my face to see ETH shorts get smoked today. Stop betting against BTC and ETH – you will be run over,
Ether Smashes $4,000 as $105M in Shorts Get Liquidated
As Ether crossed the $4,000 price line for the first time since December 2024, over $105 million in Ether short positions were liquidated on Friday, accounting for roughly 53% of the $199.61 million in shorts liquidated from the whole cryptocurrency market, according to CoinGlass. Moreover, the price of ether increased by 7.27% in the last day, reaching $4,891 during the day.
Could $5,000 Be the Next Big Milestone?
According to market watchers, strong liquidations combined with fresh optimism may give Ethereum even more upward momentum in the days ahead. Traders are focusing on the $5,000 barrier as the next significant resistance level as institutional interest and DeFi activity continue to climb. This increase coincides with a general sense of optimism in the cryptocurrency market, as altcoins follow Ethereum’s lead and Bitcoin remains strong above important support levels. ETH may be headed for its biggest climb since the 2021 bull run if purchasing pressure persists.
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