Ethereum’s rally gathered pace on Friday, briefly sending the token above $4,200 for the first time in months and triggering a cascade of forced position closures across major derivatives venues. Data from market-monitoring services show roughly $110 million in Ethereum shorts were liquidated in a single hour, with total wiped-out positions reaching about $183.6 million during the session. Across all crypto assets, liquidations over the past 24 hours climbed to roughly $404 million, including a single $10.63 million ETH trade on OKX and a $15.85 million hit to trader wallet 0xcB92. Analysts warn the squeeze could intensify. Aggregated order-book estimates indicate more than $1.3 billion in additional ETH shorts would be forced to buy back if the price touches $4,700, while data compiled by Cointelegraph suggest up to $18.5 billion in Bitcoin short interest could be at risk should the largest cryptocurrency reach $130,000. The abrupt move drew attention from Eric Trump, executive vice-president of the Trump Organization and a backer of American Bitcoin Corp. “Stop betting against Bitcoin and Ethereum—you will be run over,” he wrote on social media, adding that “everybody in the world wants Bitcoin.” Trump has been promoting American Bitcoin’s planned listing on Nasdaq under the ticker ABTC, underscoring the family’s growing interest in the digital-asset sector.
🚨🚨 @EricTrump took a victory lap on Aug. 8, mocking ETH short sellers after $173M in contracts got wiped out. Data shows 95K traders liquidated—$350M total, with ETH shorts making up 60% of all shorts obliterated. Are we witnessing the start of ETH’s next big run? Drop your
$1B in shorts will be liquidated when ETH hits $4.3k on Binance, OKX, and Bybit alone. https://t.co/psKV3pCCvF
$1.32 BILLION IN ETH SHORT POSITIONS SET FOR LIQUIDATION AT $4,700 PRICE LEVEL Over $1.32 billion worth of Ethereum short positions will be liquidated if ETH’s price reaches $4,700. A surge to this level could trigger a major short squeeze, accelerating upward momentum in the https://t.co/7poV6Z7qHR