The Great Ethereum Short Squeeze: Bears Bleed, While Traders Scratch Their Heads 🤔

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In a twist that would make even the most seasoned trader stumble over their coffee mug, Ethereum-a coin that’s quite fond of throwing curveballs-decided to give short sellers a proper smackdown. Just yesterday, those brave souls betting against ETH found themselves on the wrong side of the moon, with liquidations soaring to a staggering $111.27 million. Meanwhile, Bitcoin‘s humble $34.71 million couldn’t quite keep up-clearly, ETH bears were so flat-footed they might as well have been dancing the wrong dance. This 370% increase? Yeah, that’s not just a number; that’s a slapstick comedy about market fate. 😂

ETH shot up like a rocket from its sneaky low of $3,563 to hit a high of $3,843, leaving everyone clutching their charts and scratching their heads. It’s like watching a roller coaster where the engineer forgot to check the brakes-suddenly, everything was zooming upward, and the bears’ faces were stuck somewhere between disbelief and panic.

CoinGlass chimed in, probably giggling somewhere behind their screens, saying, “Haven’t seen this many ETH shorts wiped out in just an hour in a long while.” Short liquidations hit like a sudden gust of wind-forcing those who bet on falling prices to reverse course faster than you can say “short squeeze,” fueling the upward push like a crowd at a concert realizing the band just started playing for free. 🎉

“Haven’t seen this many #ETH shorts wiped out in just an hour in a long while.”

– CoinGlass (@coinglass_com) August 7, 2025

As of now, ETH has rallied roughly 6.94% in 24 hours, climbing to around $3,818. Good job, short sellers-your nightmare is fueling the buy button. Looks like the market is collectively shrugging off the overleveraged short positions, forcing buybacks faster than a cat chasing a laser pointer.

Ethereum Outpaces Its Rivals: SOL and BTC Look on in Envy

Not only did ETH flip Bitcoin in the quicksand of liquidations, but it’s also flexing some market muscle. According to Glassnode, the SOL/ETH ratio is dipping to a year-to-date low of 0.045-like watching a sprinter slow down just as the finish line appears. July’s record inflows into ETH and SOL reaching a local peak now feel like distant memories, as both are cooling off faster than an ice cream in the desert.

The cooling for SOL is sharper, suggesting that ETH’s dominance is gaining ground, like a heavyweight champ confidently bobbing and weaving. Over the past week, realized cap growth shows ETH being more resilient-climbing from 5.32% to 6.41%, while Bitcoin and SOL are inching downward. It’s as if ETH said, “Hold my beer,” and walked away from the mini-market chaos with a little extra swagger.

And in some non-market-shaking news, gaming company SharpLink snagged 83,561 ETH last week, bumping up to a total of 522,000 ETH. Overall, 64 corporations now hold about 2.96 million ETH-that’s a cool $10.81 billion-proof that ETH is not just a meme but also a serious asset (well, sometimes). 😉

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2025-08-07 18:03