Over $177 million in ETH long positions were liquidated on October 8th, marking the largest long squeeze since early June. An experienced trader opened a 20x leveraged long position on 12,000 ETH worth $29.88 million, currently sitting on an unrealized profit of $626,000. Bitfinex whales’ ETH long positions are rising and Ethereum’s Long/Short Ratio crossed above 1 for the first time after three days of negative readings. ETH reserves on Binance have declined to a 6-month low, dropping from nearly 4 million to below 3.5 million. Ethereum added $243.4 million in stablecoin market cap over the past seven days while Bitcoin dominance remains above 60 percent.
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