Ether extended its August rally on Friday, breaking above $4,200 and unleashing the biggest short squeeze in the cryptocurrency this year. Market-tracking services showed roughly $207 million in bearish Ether positions were liquidated over the past 24 hours, including about $110 million cleared in the space of an hour as prices accelerated. The wave of forced buy-backs followed a week-long climb that has lifted the second-largest digital asset well past the closely watched $4,000 level. The outsized liquidations suggest many traders were caught offside by the speed of the move, with one whale-sized account alone losing more than $20 million after repeated margin calls, according to blockchain data cited by analysts. The rally also drew comments from Eric Trump, son of former U.S. President Donald Trump, who urged investors to “stop betting against Bitcoin and Ethereum” and cautioned that short sellers “will be run over.” Trump’s remarks underscore how the latest surge in the two leading cryptocurrencies is again capturing attention beyond the core digital-asset community.