The $20.9 M liquidation at $4,058 is not an anomaly — it’s the signal that the short squeeze has been triggered

La liquidation de $20,9 M à $4 058 n’est pas une anomalie — c’est le signal que le short squeeze est enclenché.

❶ Les longs sont capitulés : 

– 140 M $ liquidés le 25/09,

– perte de 45,3 M $ pour les baleines,

– le support autour de 4 000 $ est tenu et

– la pression vendeuse a disparu.

❷ Les shorts sont piégés au‑dessus de 4 500 $, avec environ 11,6–13 M $ d’exposition concentrée entre 4 500 et 5 100 $.

❸ Le déclencheur technique est en place : rebond depuis 4 000 $, volume croissant, funding positif, RSI sortant de la survente.

❹ La séquence attendue est :

–  4 300‑4 500 $ (accumulation),

– test de l’ATH à 4 891 $ (volatilité),

– percée 4 950‑5 200 $ (stops shorts déclenchés),

– puis extension 5 800‑6 500 $ avec gamma‑squeeze et flux institutionnels. Une fois 4 900 $ franchi, 5 500 $ pourrait être atteint en 24‑48 h.

❺ Le risque de « dead‑cat bounce » est exclu grâce à l’augmentation du volume sur DEX/perpetuals, la fin des liquidations longues et un contexte macro favorable (Fed en pause, dollar stable).

◙ Catalyseurs dans les 72 h :

– flux d’ETF ETH,

– discours dovish de Powell et

– hausse du volume sur L2.

◙ Le short‑squeeze a commencé, la fusée est allumée et ne redescendra pas.

This $20.9 M isn’t a “liquidation” — it’s the spark.
The $11.6 B of shorts isn’t a theory — they’re there, taut like a bow.
And the ATH of $4 891 isn’t a barrier — it’s the starting line.
The ETH short squeeze has started. The rest will just be a matter of speed. HODL. Accumulate. Get ready for liftoff. The rocket is lit — and it won’t come back down.

Oleg Turceac

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