Ethereum (ETH) is setting liquidation records this week as a comparatively modest price uptick reveals how bearish the market has become.
Data from on-chain analytics platform CryptoQuant confirmed that U.S. dollar-denominated short liquidations hit a new all-time high on Oct. 25.
Two days, half a billion dollars of ETH shorts
It is not just Bitcoin (BTC) causing bears severe pain this week — data from exchanges also shows that Ethereum shorters have suffered heavy losses.
ETH/USD delivered fairly impressive gains on Oct. 25-26, rising from lows of $1,337 to highs of $1,593 on Bitstamp before retracing, according to data from Cointelegraph Markets Pro and TradingView.
ETH/USD 1-day candle chart (Bitstamp). Source: TradingViewWhile nothing unusual for crypto and for altcoins in particular, the market changes triggered by the price action stood out.


