Crypto Carnage: $1.14B in Shorts Obliterated as Ethereum Smashes Past $3K (First Time Since Feb!)
Ethereum just flipped the script—and the shorts got flipped with it.
The king of smart contracts bulldozed past $3,000 overnight, liquidating a jaw-dropping $1.14 billion in bearish bets. That’s the highest ETH price tag since February, back when TradFi analysts were still calling crypto a 'niche asset class.' (Spoiler: It’s not.)
Why the surge? Speculation’s boiling over about institutional ETH ETFs finally getting the greenlight—because nothing screams 'adoption' like Wall Street wrapping crypto in its favorite paper.
Meanwhile, the perpetual funding rate’s gone nuclear. Bulls are paying up to keep their positions open, while shorts… well, they’re not doing much of anything anymore. Poetic justice for the 'this rally’s unsustainable' crowd.
One hedge fund manager reportedly liquidated his yacht fund to cover margin calls. Should’ve HODL’d.
