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>>A large short position in Ethereum, worth $330 million, may have occurred before the release of tariff-related news, possibly contributing to a surge in gas fees and a broader market downturn.

A large short position in Ethereum, worth $330 million, may have occurred before the release of tariff-related news, possibly contributing to a surge in gas fees and a broader market downturn.

crypthub

2 days ago

Ethereum Market Event

A significant market event involving Ethereum occurred due to a substantial $330 million ETH short position. This event transpired shortly before a crucial tariff announcement, which had the potential to influence market trends.

Immediate Consequences

The sudden short position initiated a wave of panic selling among investors. This caused considerable spikes in gas fees, which are transaction costs on the Ethereum network. Flash liquidations, a process of quickly selling off assets to cover debt, also occurred across the market.