In brief
- Ethereum jumped nearly 15% Friday after Fed Chair Jerome Powell hinted at rate cuts, but the token stalled just short of eclipsing its all-time high of $4,878.
- More than $340 million in Ethereum long and short positions were liquidated in the last 24 hours, making up over half of all crypto market liquidations.
- Regulatory tailwinds, corporate treasury purchases, and ETF inflows have strengthened demand for the asset, but failed to push it past a price record it’s failed to beat in nearly four years.
Ethereum short traders lost hundreds of millions of dollars Friday as ETH came within inches of breaking past its all-time high price, but ultimately failed to rise to the occasion.
In the last 24 hours alone, over $259 million worth of ETH short positions have been liquidated, according to data from CoinGlass. Another $80 million in long positions on the cryptocurrency have expired as well—bringing the total value of ETH liquidations in the last day to over $340 million.
That figure makes up over half of all liquidations across the entire crypto market in the last 24 ho
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Author: Sander Lutz
