One of Most Bullish Days for Ethereum: $750 Million Shorts Liquidated from Market

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$ETH saw around $800 million of short liquidations as the coin manages to bounce from fundamental support level

Such a large liquidation volume appeared after Ethereum bounced off the support line at $1,715 and gained around 4% to its value. The squeeze has most likely appeared because of traders' and investors' belief that the second biggest cryptocurrency on the market will drop below $1,700 and rush to the next support at around $1,500.

As for the whole market, total liquidations are sitting at approximately $809 million, which is considered far below average for the relatively low volatility we are seeing on the market today.

 

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