ETH Futures Liquidations Don Pass $294M Near Record High
ETH futures liquidations don shoot up to $294M for the past 24 hours as Ether dey waka reach new all-time high. Dis one na increase from the earlier $229M wey dey liquidate, mainly driven by forced closure of short positions for Binance, Bybit and OKX. The short squeeze wahala make $207M of shorts and $22M of longs enter margin calls, show say market volatility don increase. Funding rates for ETH contracts still high, show say traders still dey optimistic. Total crypto liquidations pass $500M, with ETH futures liquidation make the biggest share. As ETH futures liquidations still dey high, traders suppose dey watch funding rates and open interest well well, because if leverage continue rise plus more squeeze events, e fit cause more market wahala before Ether go test im next resistance level.
Bullish
Dis surge for ETH futures liquidations dey reflect strong short squeezes as Ether price dey speed to new highs. For short term, plenty margin calls dey force bearish positions to waka comot, wey dey often push more upward momentum. High funding rates dey show say traders still dey mostly bullish, wey fit increase risk for more squeeze events. For long term, steady high leverage and volatility fit attract more liquidity and strengthen bullish sentiment, even though profit-taking cycles fit bring small pullbacks sometimes.