Quarter Billion in Ethereum Shorts Get Rekt as ETH Nears All-Time High

Ethereum Short lost hundreds of millions of dollars on Friday, as ETH came in bush from the fracture of its high price at all, but they eventually failed to rise to this occasion.

During the past 24 hours alone, more than $ 259 million from ETH short centers has been filtered, according to data from Coinglass. The validity of another $ 80 million in the long positions on the encrypted currency, which led to the total total value of the ETH references on the last day to more than $ 340 million.

This number is more than half of all references through the entire encryption market during the past 24 hours. North of 668 million dollars of encryption derivatives has been eliminated on the last day, a clear signal, at least at the present time, all eyes on ETH.

The currency was encrypted on Cut In August, a large later year, but he fell once again This week, amid total economic uncertainty. Then, a long -awaited signal this morning from the president of the Federal Reserve, Jerome Powell, indicating that the US Central Bank may come close to Reduce interest ratesSend Ethereum and other height.

Immediately after the announcement, ETH has emerged approximately 15 %, with a value of $ 4,842 for a short period. The price of the previous symbol was ever reached $ 4,878 for nearly four years, on November 10, 2021-at the peak of the bull’s last encryption.

However, traders were unable to push the encoded currency on the finish line. After reaching 1 % of a new record price record, ETH stopped, then retreated, heading to the south again without a mark of $ 4800. The distinctive code is traded at $ 4,773 in writing. The ETH price also approached the record last week before dipping.

In recent months, organizational developments in the United States have made it particularly suitable for benefit He said Decipher. Moreover, the huge acquisitions of the distinctive symbol through the Corporate Treasury and ETF flows were large The effect of contraction On ethereum icon.

Ethereum, bitcoin height after the Bowel interest rate is reduced

Greg Majadini, the director of derivatives at Amberdata, said in a joint note with her. Decipher. Majdini Ethereum has compared to iPhone, similar The increased ecosystem From the integrated goods and services on the network’s smart contracts to the Apple late application store now.

But all this momentum was not enough to pay ETH to an unknown price area – at least not yet. The slow cryptocurrency has struggled in the interaction in order to rise to its highest levels, even as the rival symbols continued break Records In the continuous bull market.