Ethereum’s price bounced above 2,670 USD, triggering a massive short squeeze that liquidated 500 million USD in short positions on Binance. This underscored the crowded bearish sentiment and implied potential for further volatility.
With positive funding rates and strong inflows into derivatives, traders have shifted back to bullish positions. Nevertheless, renewed interest in short-selling indicates that caution is warranted, and further market turbulence could be imminent.
Leave a Reply