Eric Trump Cheers Ethereum Short Squeeze
Eric Trump praises Ethereum’s rally as $105M in shorts get liquidated, marking a major win for bullish traders.
- ETH rallies past $4,000, triggering mass short liquidations.
- Eric Trump mocks bearish traders betting against ETH.
- Over $105M in ETH shorts wiped out in one day.
Ethereum’s recent price surge past the $4,000 mark has sent shockwaves through the crypto market. In just one day, over $105 million in short positions against ETH were liquidated. This dramatic move accounted for more than half of all crypto short liquidations during the same period, making it one of the biggest short squeezes of the year.
Eric Trump, son of former U.S. President Donald Trump, couldn’t resist commenting. He said it “puts a smile on my face to see ETH shorts get smoked today,” adding that betting against major cryptocurrencies like Bitcoin and Ethereum was a losing game.
What Sparked the Ethereum Short Squeeze?
The rally was fueled by a combination of renewed investor confidence, positive macroeconomic signals, and anticipation of Ethereum network upgrades. As the price climbed rapidly, traders holding short positions were forced to close their trades, buying back ETH at higher prices—further fueling the surge.
A short squeeze like this happens when too many traders bet against an asset, and its price moves sharply upward. This triggers a chain reaction of buybacks, pushing prices even higher. For Ethereum, this event has reignited bullish sentiment across the market.
The Road Ahead for ETH
While ETH’s breakout above $4,000 is a milestone, the market remains volatile. If Ethereum can hold above this level, analysts believe it could target new highs in the coming weeks. However, traders are reminded that sudden price swings are common, especially after large short squeezes.
For now, Ethereum bulls are celebrating—and Eric Trump’s comments have only amplified the buzz.
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