Ethereum’s rally just turned explosive, with a staggering $135 million in short positions wiped out in the last 60 minutes, as traders scramble to cover their bets against the world’s second-largest cryptocurrency.
Market Overview
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Asset: Ethereum ($ETH)
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Liquidations: $135M shorts (1 hour)
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Trend: Accelerated bullish breakout following Bitcoin’s surge beyond $120K.
What’s Driving the Move?
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Short Squeeze Pressure – Massive liquidations are forcing bears to buy back ETH, adding upward momentum.
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Institutional Buying – Continued inflows from big money players targeting Ethereum alongside Bitcoin.
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Macro Optimism – Increasing market confidence in crypto adoption and Ethereum’s DeFi dominance.
CentBit Insight:
With this level of short wipeouts, Ethereum could push beyond $4,000 and potentially aim for new all-time highs if the momentum continues.
