Eric Trump celebrated a $105 million Ether short liquidation on Twitter following a surge past $4,000, sparking bullish sentiment on November 2, 2024.
The liquidation highlights significant market volatility, raising anticipation for a potential short squeeze if Ether breaches $4,100, impacting cryptocurrency trading dynamics.
$105 Million Ether Shorts Liquidated After Price Surge
Eric Trump publicly celebrated the liquidation of $105 million in Ether shorts. The event followed a rapid price surge, breaking $4,000โa first since December 2024.
The surge in Etherโs price resulted in the liquidation of a significant portion of short positions. This development has sparked speculation about a potential short squeeze if key resistance levels are breached.
Eric Trump Celebrates as 53% of Crypto Shorts Eliminated
The liquidation event marked the elimination of approximately 53% of crypto shorts that day. Eric Trump posted on social media about his satisfaction with the event, causing a stir in the cryptocurrency community.
Financial analysts suggest a potential rise to $4,400-$4,500 if Ether breaks the $4,100 resistance. Historical data supports this possibility, with previous surges following notable liquidations. The event has not triggered significant regulatory alerts.
Experts Predict Rally as Ether Nears Key Resistance
Large-scale short liquidations have historically led to rapid price hikes in the crypto market. Earlier patterns include the October 2023 rally that resulted in significant market movements.
According to Kanalcoin, potential outcomes could see Ether prices escalating quickly if momentum continues. Historical trends support this analysis, emphasizing the significance of surpassing the $4,100 threshold. Eric Trump once remarked, โIt puts a smile on my face to see ETH shorts get smoked today. Stop betting against BTC and ETH โ you will be run over.โ
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