A massive $40 million liquidation of Ethereum short positions occurred within just 60 minutes, signaling heightened market volatility in the cryptocurrency space. This rapid price increase, fueled by a surge in trading activity, sparked forced buy-backs and pushed the market towards higher resistance levels, potentially indicating the start of a further bullish trend. Market observers like Watcher Guru have noted this event’s strong correlation to previous short squeezes, highlighting the turbulent nature of cryptocurrency trading and its potential for sudden price shifts. 60-minute timeframes are becoming increasingly common for these liquidations, reflecting a broader trend of increased liquidity stress in the market.