The trader known as pension-usdt.eth lost approximately $49 million on Ethereum following a sudden price surge from below $2,000 to above $2,300. This move triggered the liquidation of nearly $3 billion in leveraged positions across the cryptocurrency market, with short positions accounting for $2.74 billion of that total. Ethereum alone represented approximately $1.13 billion in liquidations, making it the second-most affected asset after Bitcoin at $1.42 billion. This loss ended a remarkable 23-trade winning streak for this trader specialized in shorting Ethereum. ETH is currently trading around $2,250, a level that needs to be held above roughly $2,125 to validate the technical significance of the breakout.
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