Forecast Trend Report by Period
Ether climbed more than 8% in a day and briefly rose above $2,300, triggering a wave of short liquidations across the broader crypto market.
Wu Blockchain said on Aug. 19 that Ether on Binance had briefly topped $2,300 and was recently trading around $2,265. The token has gained 8.52% over the past 24 hours.
Bitcoin also advanced, trading at $69,367.47, up 1.08% over the same period.
The sharp rise wiped out traders betting on lower prices. CoinGlass data showed total liquidations across the crypto market reached $802.98 million over the past four hours.
Of that total, short liquidations accounted for $736.53 million, or about 92%. Long liquidations stood at $66.45 million during the same period.
Short positions are bets that prices will fall. When prices surge instead, forced liquidations can trigger buy orders, setting off a short squeeze that can further accelerate gains in the near term.
