Conclusion first: Ethereum is up 6% today. Out of the total $230 million liquidated across the entire network, 86% is shorts—those betting on a drop got rounded up and ended up in a single sweep.
At the current price of 2730, the 24-hour high is 2748 and the low is 2575. Binance and OKX are both capped at about a 6% gain, in sync.
The one who got hit the hardest is the whale. Today at 5:30 PM, on Hyperliquid, an address had three shorts liquidated in a row in less than 4 minutes: 2,404, 1,923, and 1,539 units, totaling $16 million. The biggest single trade of the day was also on Binance: 2,556 short contracts, $6.95 million, with 2,719 liquidated.
The winds seem to be shifting: in the last hour, out of the $6.51 million in liquidations, longs make up 55%. Those who chased longs after a spike got cut first.
Open interest rose 8.8% in a day to 27.87 billion; the dip pits cleared by the drop were filled by new funds, and leverage has been piled up even thicker.
$ETH $BTC
After slaughtering the shorts, how many days can the longs’ good times last?
Check in real time: https://www.coinboss.com/currencies/ETH