If $ETH crosses the threshold of 2.163#USDT , then 640 million USD in short selling orders could evaporate
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According to the latest on-chain data, the price level of 2.163 USD is becoming a crucial " Achilles' heel" for the bears.
Specifically, if ETH surpasses this resistance level, the total liquidation value of short orders on major centralized exchanges (CEX) will reach a staggering amount: 640 million USD.
Such large-scale mass liquidations could trigger a "Short Squeeze" effect. When short orders are forced to close positions, the demand to buy back ETH to settle debts will spike, potentially driving the price of this token up significantly in a short time.
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