Ethereum Closes a Breakout at $4k: $1.4 Billion Worth Shorts at Liquidation Risk

Key Points

1. Ethereum's price has increased by sixty percent in a few weeks, rising from $2,400 to $3,900, driven by inflows from spot ETFs and market momentum.

2. Ethereum ETFs have seen inflows of over $9,438 million since July 10th, indicating strong investor interest.

3. A break above $4,002 could liquidate over $1.4 billion in short positions, with significant downside risks for exchanges like Binance and Bybit.

4. Ethereum is outperforming Bitcoin, with its ecosystem and DeFi growth contributing to its bullish momentum.

5. The next resistance levels for Ethereum could be $4,500 or $5,000 if it breaks the $4,000 barrier, but the market remains volatile.