Ethereum Short Squeeze: In the last 24 hours, $388 million in Ethereum short positions were liquidated due to a significant price surge, highlighting increased market volatility.
Institutional Inflows: The market experienced substantial institutional interest, with ETH ETFs reporting $287.6 million in net inflows and institutional spot buying reaching $1.6 billion.
Impact on Leveraged Traders: The massive liquidations primarily affected leveraged traders, leading to increased scrutiny on high leverage usage in cryptocurrency markets.
Market Reactions: The surge in Ethereum's price to $4,885 resulted in heightened volatility across related cryptocurrencies, including BTC and altcoins, as traders adjusted their positions amidst the changes.
