Ether saw the biggest short position of the day’s Wipeout on all crypto assets on Friday as its price exceeded $ 4,000, along with some analysts saying that the stage could be set for a short squeeze.
The rally led Eric Trump, son of US President Donald Trump, to take a jab with bearish businessmen.
$ 4.1k is now key for “short squeeze,” the businessman says
“It puts a smile on my face to see ETH’s shorts smoked now. Stop betting against BTC and Eth – you run,” Trump Says On an X post on Friday.
On Friday, approximately $ 105 million in Ether (Eth) Short positions are liquid, representing about 53% of the total $ 199.61 million in liquid shorts from the entire crypto market, as the ether exceeds $ 4,000 price levels for First time since December 2024, According to In coinglass.
Ether’s price went up as high as $ 4,060 in the day, representing a 4.6% increase in the past 24 hours, before retinging to $ 4,015 at the time of publication, According to Kay Nansen.
Crypto trader ash crypto Says The real test was the $ 4,100 price level, which he called “main objection.”
“If ETH destroys $ 4100, it can trigger a short squeeze that 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 Says“It has not been bullish in my opinion,” pointing to the increasing interest of the institutional in the ether and demanded for ETFs.
Related: The Ethereum Top is on? Eth Sell-Pressure hits $ 419m, second highest level ever
During the past four days of trading, spots ETF ETF has seen around $ 537 million in flows, According to to the data away.
Recently, there have been some major price predictions for Ether. After it broke $ 4,000, a crypto businessman mustache Says“I know it’s wild, but I think ETH will go to $ 10,000+.”
Meanwhile, Fundstrat co-founder Tom Lee Says On Thursday that Ether is having a “Bitcoin 2017 Moment” and can be reached as high as $ 16,000.
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