$1.14B in Crypto Shorts Rekt as Ethereum Tops $3K For First Time Since February
2025-07-11 11:00:28
Main Idea
Ethereum's price surpassed $3,000 for the first time since February 2025, driven by record inflows into Ethereum ETFs and significant short liquidations, while Bitcoin also reached new all-time highs.
Key Points
1. Ethereum's price rose 8.8% in 24 hours, exceeding $3,000 for the first time since early February 2025.
2. U.S. Ethereum ETFs saw a record single-day inflow of $383.1 million, contributing to the price surge.
3. Over $258 million worth of Ethereum short positions were liquidated in the past 24 hours.
4. Bitcoin set a new all-time high of $118,667, with over $678 million in Bitcoin shorts liquidated.
5. Total crypto market short liquidations exceeded $1.14 billion, with traders speculating on Bitcoin reaching $125,000.
Description
Ethereum topped $3,000 for the first time since February, following the largest single day for ETH exchange-traded fund inflows.
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