ETH Bears Crushed as Short Liquidations Soar 370% Over Bitcoin
Main Idea
Ethereum (ETH) experienced a sharp price surge to $3,843, leading to a 370% higher short liquidation volume compared to Bitcoin, crushing bearish traders and triggering a short squeeze.
Key Points
1. Ethereum short liquidations reached $111.27 million in 24 hours, significantly surpassing Bitcoin's $34.71 million.
2. ETH's price surged from $3,647 to $3,843, catching bearish traders off guard and forcing overleveraged short positions to cover.
3. ETH outperformed Bitcoin in 24-hour liquidations and showed resilience in realized cap growth, increasing from 5.32% to 6.41% over seven days.
4. The SOL/ETH hot capital ratio declined to a year-to-date low of 0.045, indicating ETH's relative strength compared to Solana (SOL).
5. Gaming company SharpLink added 83,561 ETH to its holdings, contributing to the 2.96 million ETH owned by 64 corporations, valued at $10.81 billion.
Description
Ethereum rose sharply to $3,843, fueling short squeeze
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