On Friday, approximately $105 million in Ether ($ETH) short positions were liquidated, representing about 53% of the total $199.61 million in shorts liquidated from the entire crypto market, as Ether surpassed the $4,000 price level for the first time since December 2024, according to CoinGlass.
Ether total liquidations over the past 24 hours came to $129.16 million. Source: CoinGlass
Ether’s price climbed as high as $4,060 over the day, representing a 4.6% increase over the past 24 hours, before retracing to $4,015 at the time of publication, according to Nansen.
Crypto trader Ash Crypto said the real test will be the $4,100 price level, which he called a “major resistance.”
“If $ETH breaks $4100, it could trigger a short squeeze which will send $ETH to $4400-$4500 in just a few hours,” Ash Crypto said.
Ether optimism is rising in the crypto industry
Crypto trader Ted said, “It’s never been this bullish in my opinion,” pointing to the increasing institutional interest in Ether and demand for Ether ETFs.
Over the past four trading days, spot Ether ETFs have seen around $537 million in inflows, according to Farside data.
Source: Benjamin Cowen
Recently, there have been some major price predictions for Ether. After it broke past $4,000, crypto trader Moustache said, “I know it sounds wild, but I think $ETH will go to $10,000+.”
Meanwhile, Fundstrat co-founder Tom Lee said on Thursday that Ether is having its “Bitcoin 2017 moment” and may reach as high as $16,000.
cointelegraph.com
