Ether experienced the largest short position wipeout in the crypto market on Friday, surpassing $4,000 and potentially setting the stage for a short squeeze. This led to Eric Trump taking a jab at bearish traders. Approximately $105 million in Ether short positions were liquidated as the price surged. Ether saw total liquidations of $129.16 million in the past 24 hours. The price climbed to $4,060 before retracing to $4,015. Crypto traders are now eyeing the $4,100 level as a major resistance point, with potential for a short squeeze to push Ether to $4,400-$4,500. Optimism for Ether is rising in the industry, with increasing institutional interest and demand for Ether ETFs. Spot Ether ETFs saw around $537 million in inflows over the past four trading days. Some traders have made bold price predictions for Ether, with some saying it could reach $10,000+ and Fundstrat co-founder suggesting a potential rise to $16,000.

Read more at Cointelegraph: Ether Short Wipeout Amid $4K Reclaim Led To Eric Trump Smiling