Ether extended its 2025 rally on Friday, jumping past the psychological $4,000 mark and briefly trading above $4,200. The overnight surge delivered the biggest short squeeze of the year in the world’s second-largest cryptocurrency by market value. Data aggregated by crypto-derivatives trackers show about $110 million in bearish Ether positions were liquidated within a single hour early in the Asian session. Total short wipe-outs reached roughly $207 million to $209 million over the last 24 hours, according to figures circulated by Cointelegraph and other market monitors. Across all digital-asset contracts, forced liquidations topped $404 million, including a $10.63 million Ether position on exchange OKX— the day’s largest single trade closed by margin calls. The violent move caught the attention of Eric Trump, who posted that it “puts a smile on my face to see ETH shorts get smoked today” and warned traders to stop betting against Bitcoin and Ethereum or “you will be run over.” While the younger Trump has no direct policy role, his remarks underscore the growing mainstream visibility of the latest crypto rally.