ETH Breakout Above $1,962 Could Trigger $233M in Short Liquidations

The figure matters less as a target than as a map of where leveraged positioning is concentrated: a thin band of shorts sits just overhead, and forced covering is mechanical buying that can amplify a move without any change in fundamentals. That asymmetry cuts both ways, since the same data implies crowded positioning on one side of the book. Whether the level is actually cleared, and whether the resulting move holds once the liquidations are exhausted, is the open question.