Ethereum surged past the psychologically significant $4,000 mark on 8–9 Aug., climbing further to about $4,200, according to on-chain data trackers. The move extended a rebound that has unfolded over the past week and pushed the second-largest cryptocurrency to its highest level in months. The sharp price advance triggered a wave of forced liquidations among bearish leveraged traders. Data compiled by several analytics platforms show roughly $110 million of ETH short positions wiped out in the space of an hour early Saturday, while total liquidations over the preceding 24 hours reached about $135 million—including $113 million in shorts and $22 million in longs. One heavily margined wallet identified as 0xcB92 was caught in the squeeze. After seeing part of its position liquidated at $4,114, the trader’s entire 10,000-ETH stake was closed out when the token crossed $4,200, crystallising losses of more than $15.85 million. Large holders also shuffled positions. A whale known as 0x3c9E, which dumped 38,582 ETH for $136.9 million a week earlier at about $3,548, repurchased 1,800 ETH for $7.22 million at $4,010 as prices rebounded. Another address off-loaded 9,000 ETH for $34.76 million in USDT at an average $3,863 over the past five days.