ETH Rips Violently Up in a Single Day! 456 Million Shorts Wiped Out in 24 Hours, the $2400 Lifeline Has Been Broken

On April 17, ETH’s market action directly put on a textbook-level short-squeeze massacre for shorts. Benefiting from the easing of the Middle East situation and the opening of the Strait of Hormuz, oil prices fell in response. ETH was violently pushed up from around $2300, topping out at $2457. The day’s gain exceeded 6.5%, and 24-hour contract trading volume surged to $67.189 billion, fully igniting market sentiment.

In the past 24 hours, the liquidation data across the entire network was extremely grim: the total amount reached $722 million, of which shorts liquidated totaled $456 million—nearly twice the long liquidation amount. For ETH alone, short liquidations reached $110 million; nearly 200,000 users were forced to liquidate. The largest single liquidation amount was as high as $15.75 million, and shorts were buried completely.

ETH is currently standing at a critical point in the bull-bear standoff: above $2439 is the short-liquidation cliff of $872 million in cumulative liquidations. Once it breaks, it will trigger a chain reaction of liquidations. Below $2209 is an $896 million long trap, with support strength that is just as strong.

Institutional moves have also added fuel to the rally: U.S. spot ETH ETFs have continued to see net inflows, and institutional Bitmine increased its holdings by more than 70,000 ETH in a week. On-chain data shows institutions are continuously accumulating, while retail investors are selling at lower levels, as funds are moving from small hands into larger capital.

This short-squeeze rally sparked by geopolitical tailwinds, combined with signals of ongoing institutional capital entering and ETF funds flowing back—couldn’t it be the prelude to Ethereum’s next round of upswing cycle? With shorts slaughtered and longs fully stocked, as long as key resistance levels are effectively broken, this rebound could directly open up upward space. The signal for a return of the bulls is becoming clearer and clearer.

#ETH #以太坊 #山寨币强势反弹