ETH jumps 16.51% as $1.1B+ in short positions get wiped out in 24 hours

According to TradingBeats (formerly Hyperinsight), the crypto market rebound accelerated on August 20 (UTC+8), lifting ETH 16.51% over the past 24 hours to $2,229.70. On-chain data show heavy forced unwinds over the same window. The largest single liquidation was recorded about six hours ago from a major address tied to "pensionusdt.eth," with a $108.15 million position liquidated. Another address linked to the same entity saw a $3.18 million short liquidated. Other notable liquidations included $13.82 million from "picholas," $9.98 million from subaddress "0x01...a990," and $5.99 million from "0x83...f54a." With liquidation levels clustered near the current price, the market is also showing elevated risk of long-side liquidations at higher levels. "Maji" faces a potential $46.48 million long liquidation, with a liquidation price at $2,171.73—about 3.2% below the current spot. ETH open interest stands at $1.89 billion. The long/short ratio among the top 10 whales is 2.3333, while the overall long/short ratio is 1.70:1. Data also show 10,409 long traders, and short traders make up 63.0% of participants, pointing to a broadly bullish tone. (Source: BlockBeats)