Ethereum Shorts Hit Massive Loss of $350 Million as Price Soars to New Record High

The cryptocurrency market recently witnessed a substantial financial upheaval as Ethereum shorts faced a significant loss exceeding $350 million. The price surge for Ethereum (ETH) pushed these short positions into liquidation, exposing traders to heavy losses. This dramatic event occurred just as ETH reached an all-time high, highlighting the inherent volatility and rapid shifts within the cryptocurrency landscape.