Analysis: Short positions facing 'punishment' may help ETH reach an annual high of $4000

According to a report by Golden Finance, Kobeissi Letter has released its latest analysis showing that ETH/USD may soon reach $4000. As the largest altcoin by market value, ETH is punishing short positions at an unprecedented rate, and the market is witnessing one of the largest short squeezes in cryptocurrency history. Data analysis suggests that if Ethereum rises another 10%, an additional $1 billion in short positions will be liquidated.