Ethereum Don Hit 45 Month Peak, Spark $200M Short Squeeze

Ethereum don blow pass $4,000 reach intraday peak of $4,200, e mark say na 45 months high and e trigger over $200 million short liquidations inside 24 hours. The biggest liquidation wey happen na $10.6 million for OKX ETH-USDT perpetual contract. Since e low of $1,385 for April 9, Ethereum don climb over 300%, pass majority of altcoins. Meanwhile, Bitcoin just dey stabilize between $112,000 and $119,000, and Solana rebound near $180. Big big macro catalysts like US executive order wey allow 401(k) plans to put up to 2% for crypto, plus better expectation say Fed go cut rate, don boost bullish mindset. Spot ETFs for Bitcoin and Ethereum don turn around go net inflows after some days wey dem dey outflows. On-chain metrics still dey show recovery: DeFi TVL hit record $270 billion, NFT trading jump 96% to $530 million, and stablecoin supply rise to $265 billion. Other major moves na whales wey don gather over 1 million ETH since July and SharpLink Gaming wey raise $200 million to expand im Ethereum treasury. Other things dey go on like XRP SEC lawsuit resolution, Ethena $260 million ENA token buyback, Chainlink on-chain reserve initiative, and BounceBit CeDeFi product with Franklin Templeton. This macro policy, on-chain activity, plus capital flow merge dey support the ongoing “altseason.”