Ethereum (ETH) has surged past $4,000, triggering $184 million in short liquidations as bullish momentum builds.
Why ETH Is Rallying
📈 18% weekly gain – Strong buying pressure 💰 $326M ETF inflows (Aug 4-8) – Institutional confidence returns 🔥 Short squeeze in full force – Bears caught off guard
🔹 Futures open interest up 10% ($51.61B) – Traders back the rally 🔹 Short liquidations dominate ($184M vs. $24M longs) 🔹 Support holds at $3,909 – Critical for continued upside