Ether shorts faced a significant setback as $105 million worth of short positions were liquidated, marking one of the largest single-day losses across the crypto landscape this past Friday. As the price of Ether surged past $4,000, this dramatic event caught the attention of many, including Eric Trump, who had some choice words for the bearish traders.
Eric Trump Reacts to Ether Shorts
In the midst of Ether’s price rally, Eric Trump, son of former US President Donald Trump, expressed his satisfaction with the outcome. “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,” Trump commented in a post on X.
This sentiment echoes the broader optimism within the crypto community as Ether makes strides to establish itself beyond the $4,000 threshold, a level not seen since December 2024.
The Significance of the $4,100 Level
Crypto trader Ash Crypto highlighted the importance of the $4,100 mark, noting it as a “major resistance” point. “If ETH breaks $4100, it could trigger a short squeeze which will send ETH to $4400-$4500 in just a few hours,” he remarked.
This potential for a short squeeze has traders watching the markets closely, with many predicting that surpassing this barrier could lead to even more substantial gains.
Rising Optimism in the Crypto Industry
Crypto trader Ted reflected on the current market sentiment, stating, “It’s never been this bullish in my opinion.” This optimism is fueled by increasing institutional interest in Ether and the rising demand for Ether ETFs.
Over the past four trading days, spot Ether ETFs have attracted approximately $537 million in inflows, showcasing strong investor confidence. This surge in interest suggests a promising future for Ether in the crypto space.
Bold Predictions for Ether’s Future
In the wake of Ether’s recent price movements, some analysts have put forth bold predictions. Crypto trader Moustache ventured, “I know it sounds wild, but I think ETH will go to $10,000+.” Meanwhile, Tom Lee, co-founder of Fundstrat, likened Ether’s current trajectory to Bitcoin’s 2017 rally, suggesting it could potentially reach $16,000.
These predictions, while ambitious, are reflective of the growing confidence and excitement surrounding Ether’s future prospects.
