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Eric Trump stands up for encryption long positions, while ETH short positions face a bloodbath.
On August 9, the price of Ethereum (ETH) broke through $4000 and is currently above $4100, reaching an eight-month high, resulting in significant losses for short positions.
According to CoinGlass data, in the past 24 hours, the amount of Ethereum short positions liquidated reached $207 million, accounting for 56% of the total liquidation amount in the encryption market.
It is worth noting that Eric Trump posted on his X platform this morning, warning his nearly 5.87 million followers to "stop shorting" Bitcoin and ETH, stating, "The short positions on ETH have been liquidated, which makes me very happy. Stop shorting BTC and ETH, or you will be crushed." This statement has drawn widespread attention in the market.
The X platform issued a warning to its nearly 5.87 million followers, urging them to "stop shorting" Bitcoin and Ethereum. He bluntly stated, "ETH short positions have been wiped out, which makes me very happy. Stop shorting BTC and ETH, or you will be crushed." This statement quickly attracted widespread attention in the market.
Crypto trader Ash Crypto stated that $4100 is a key resistance level for ETH. If it breaks through, it could trigger a short positions squeeze, pushing the ETH price to soar to $4400-$4500 within a few hours.
Another trader, Ted, pointed out that the bullish sentiment for ETH has reached unprecedented heights, mainly due to increased institutional interest in ETH and rising demand for ETH ETFs.
In addition, crypto trader Moustache predicts that the price of ETH may exceed $10,000, while Fundstrat co-founder Tom Lee believes that ETH is experiencing the "glorious moment of Bitcoin in 2017," with its price possibly soaring to $16,000 during this period.
According to Sosovalue data, in just the past four trading days, the fund inflow for the ETH spot ETF has reached nearly $800 million, indicating that market interest and confidence in Ethereum (ETH) are rapidly heating up.
In summary, as the price of ETH breaks through 4000 dollars, the market's predictions for its future price are becoming increasingly bold.
However, historical market trends have repeatedly proven that the encryption market is always full of twists and turns, and any seemingly one-sided market can reverse overnight.
Therefore, in this digital asset war without gunpowder, investors can only maintain awe to remain undefeated in the storm.
#Ethereum