PiCK
Ether Jumps 8.5% in a Day as $736.5 Million of Shorts Are Liquidated in Four Hours
Summary
- Ether (ETH) surged 8.52% in a single day, briefly rising above $2,300 before trading around $2,265.
- Total liquidations across the crypto market reached $802.98 million over the past four hours, including $736.53 million in short liquidations (about 92%).
- Long liquidations totaled $66.45 million during the same period, and the large-scale short liquidations could fuel a short squeeze that further boosts prices in the near term.
Forecast Trend Report by Period
Ether rose more than 8% in a day and briefly climbed above $2,300, triggering a broad wave of short liquidations across the crypto market.
Wu Blockchain said on August 19 that Ether on Binance briefly topped $2,300 and was recently trading around $2,265. The token has gained 8.52% over the past 24 hours.
Bitcoin also moved higher, trading at $69,367.47, up 1.08% over the same period.
The sharp rally triggered heavy liquidations of bearish bets. CoinGlass data showed total liquidations across the crypto market reached $802.98 million over the past four hours.
Short liquidations accounted for $736.53 million of that total, or about 92%. Long liquidations were $66.45 million during the same period.
Short positions are bets that prices will fall. When prices rise sharply instead, forced liquidations can trigger buy orders, setting off a short squeeze that can magnify gains in the near term.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.