#etherralliesasbearishbetsliquidate
Short pressure is officially here.
More than $300 million was wiped out from short positions in Ethereum over the past 24 hours—contradicting the usual trend typically led by Bitcoin during liquidations. According to Coinglass data, negative funding rates meant that the pessimists were paying a premium to get exposure to the pressure as Ethereum rose 8% today.
On Binance alone, $76 million in Ethereum positions were forcibly closed, adding direct fuel to the uptrend. The market was heavily short, and this extra baggage was simply cleared out.
Do you see this as a real reversal in Ethereum’s trend, or just a temporary leverage liquidation? Let me know below. 👇
Please follow along
#Ethereum #CryptoMarket (DYOR / NFA)
$ETH
Short pressure is officially here.
More than $300 million was wiped out from short positions in Ethereum over the past 24 hours—contradicting the usual trend typically led by Bitcoin during liquidations. According to Coinglass data, negative funding rates meant that the pessimists were paying a premium to get exposure to the pressure as Ethereum rose 8% today.
On Binance alone, $76 million in Ethereum positions were forcibly closed, adding direct fuel to the uptrend. The market was heavily short, and this extra baggage was simply cleared out.
Do you see this as a real reversal in Ethereum’s trend, or just a temporary leverage liquidation? Let me know below. 👇
Please follow along
#Ethereum #CryptoMarket (DYOR / NFA)
$ETH
