The post Ethereum: $35mln ETH shorts build at key levels – Squeeze ahead IF… appeared on BitcoinEthereumNews.com.

Ethereum faced a sharp positioning clash as $35.65 million in leveraged shorts built against a dominant long bias, tightening conditions around key breakout levels. Two newly created wallets have deposited 6.8 million USDC into Hyperliquid and opened 20x short positions on 17,032 ETH worth $35.65 million.  This positioning reflects clear intent, as liquidation levels sat tightly at $2,466 and $2,319, as of this writing. Such narrow thresholds show limited tolerance for upward movement.  However, this setup introduces risk, as high leverage amplifies exposure to sudden price shifts. If the price continues rising, these positions would face pressure quickly.  This concentration of shorts near key levels suggests an attempt to drive Ethereum [ETH] lower into liquidity, yet it also creates conditions where upward movement could trigger rapid liquidations. Why are top traders still net long? Binance top traders continue to hold a strong long bias, with 57.61% of accounts positioned long compared to 42.39% shorts.  This distribution shows that experienced participants align with upward expectations despite visible short-term pressure.  However, this divergence between aggressive shorts and dominant longs introduces structural tension.  Long positioning reflects confidence in the current recovery, especially as price holds above reclaimed levels.  Still, this imbalance builds pressure within the market, as both sides increase exposure.  As long dominance persists, it continues to support price stability while absorbing downside attempts from leveraged short positions. Source: CoinGlass Ethereum breakout shifts structure higher Ethereum has confirmed a cup-and-handle breakout after reclaiming the $2,140–$2,160 range as support. This shift marks a clear structural transition, as price now holds above a previously contested zone.  The breakout aligned with a move toward the $2,378 resistance level, which defines the next key target.  However, ETH continues respecting this reclaimed support, reinforcing the strength of the breakout.  Ethereum has been approaching the 50 EMA, which…

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Filed under: News - @ April 2, 2026 2:21 am