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03 October, 2024

Ethereum (ETH) Rebound: Is a $700 Million Short Squeeze Imminent?

03 October, 2024

Ethereum (ETH) has recently faced a significant price drop, but there are signs of a potential rebound on the horizon. Long-term holders are showing increasing confidence, leading to a potential short squeeze that could propel the price towards $2,600.

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The increased buying pressure from these long-term holders could trigger a rapid price surge, catching short sellers off guard. Short sellers have been betting on Ethereum’s decline, and a sudden reversal in price could force them to cover their positions, further fueling the rally.

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With a potential short squeeze of over $700 million looming, Ethereum’s price could experience a swift and substantial upswing. This scenario would represent a significant shift in market sentiment, potentially signaling a bullish trend for Ethereum in the near future.