Ethereum Rockets Past $4.2K—$200M Wiped in Liquidations as Trump Cheers the Rally

Ethereum just pulled off a moonshot—blasting past $4,200 and leaving a trail of liquidated leverage in its wake. Here’s how the chaos unfolded.

The $200M Bloodbath: Bulls party, bears get stuffed. Over-leveraged shorts evaporated faster than a meme coin’s utility as ETH’s surge triggered cascading liquidations. Cue the margin calls.

Trump’s Crypto Flip-Flop: The former president—once a crypto skeptic—now reportedly celebrates the rally. Guess even politicians chase green candles when reelection campaigns need funding.

Why This Isn’t Just Hype: Institutional inflows, Layer 2 adoption, and the Merge’s afterglow keep fueling ETH’s fire. But let’s be real—some traders would FOMO into a token called ‘Shiba Inu 2.0’ if it trended on Twitter.

One thing’s clear: Crypto winters thaw fast when Wall Street’s algo-traders start front-running your grandma’s ETH purchases.

The move marks a major feat in ETH’s price as the last time it was trading this high was in December 2021. That said, over the past 24 hours, the cryptocurrency accounted for the lion’s share of liquidations. Over $200 million were wiped out, $185 million of which were shorts.

Commenting on the matter was no other but Eric Trump, who said:

It puts a smile on my face to see ETH shorts get smoked today. Stop betting against BTC and ETH – you will be run over.

The rest of the market is also in the green, and many of the altcoins are charting considerable gains.