Ethereum Sees ₩140 Billion Short Liquidations... Short Squeeze Triggered After Breaking $4,000?

The price of Ethereum (ETH) broke the $4,000 mark for the first time in 8 months, leading to the largest amount of short liquidations in the virtual asset (cryptocurrency) market in a single day.

According to the cryptocurrency-focused media outlet Cointelegraph on the 9th, Eric Trump, the eldest son of former U.S. President Donald Trump, left a mocking message for investors who had been betting on a decline. On X (formerly Twitter), he wrote, “It's funny to see ETH short sellers get wiped out today. Don’t bet against Bitcoin (BTC) and ETH. You’ll get steamrolled.”

CoinGlass reported that approximately $105 million (about ₩146.5 billion) of Ethereum short positions were liquidated in one day, making up about 53% of the total short liquidations ($199.61 million) in the entire crypto market. This occurred as ETH surpassed $4,000 for the first time since December of last year. Total ETH liquidations over 24 hours reached roughly $129.16 million.

Cryptocurrency trader Ash Crypto commented, “The key level is whether ETH breaks $4,100,” adding, “If this happens, a short squeeze—where ETH could surge to $4,400–$4,500 within hours—might occur.”

Trader Ted noted, “It’s never been this bullish.” He attributed this to the growing interest from institutional investors and increased demand for the spot ETH ETF. According to Farside Investors, around $537 million in net inflows entered spot ETH ETFs over the past four trading days.

Meanwhile, bullish outlooks continue. Right after ETH breached $4,000, trader Moustache stated, “It might sound unbelievable, but ETH will surpass $10,000.” Fundstrat co-founder Tom Lee also predicted that “ETH is entering a period similar to Bitcoin’s 2017,” and could soar up to $16,000.