ETH Short Sellers Get Squeezed as $238 Million in Positions Are Liquidated

Ether short sellers took heavy losses this week as crypto rebounded from a post-election sell-off. Liquidation data showed bearish bets made up most of the positions wiped out in a single day. That forced buying gave ETH a sharp bounce after a weak month. Traders now want to know whether spot buyers step in once the squeeze runs out, or the price drifts back toward its range lows. Crypto markets sold off after the midterm elections handed Democrats control of both houses of Congress. Traders worried about the direction of federal crypto rules.

Source: Crypto Daily