ETH short squeeze wipes out $105M as ETH tops $4,000
An ETH short squeeze wiped out $105M as Ether surged past $4,000. Short liquidations made up 53% of total crypto short liquidations, with $199.6M canceled out across markets. Over 24 hours, combined ETH long and short liquidations hit $129.2M. ETH peaked at $4,060 before settling near $4,015. Traders now eye a breakout above the $4,100 resistance level. A decisive move could trigger another ETH short squeeze toward $4,400–$4,500. Spot Ethereum ETF inflows reached $537M over four days, supporting the rally and indicating rising institutional demand. On X, Eric Trump noted ETH shorts were “smoked”. Analyst Ash Crypto flagged $4.1K as critical, while trader Moustache pointed to a bullish wedge pattern. Fundstrat’s Tom Lee compared this rally to Bitcoin’s 2017 run and set a $16,000 target. This event underscores robust bullish momentum and a positive Ethereum market outlook.
Bullish
Heavy short liquidations and a surge past key resistance thresholds have triggered bullish momentum for ETH. The $105M short squeeze reduces selling pressure, while $537M in ETF inflows reflects rising institutional demand. A potential break above $4,100 could fuel further advances toward $4,400–$4,500. Analysts’ extended targets as high as $16,000, combined with technical patterns like the descending broadening wedge, support a sustained uptrend. Overall, this event underscores robust upward pressure on ETH in both the short and long term.