$10B ETH Shorts at Risk if Price Pumps 10%

Key Points

• Over $10B in ETH shorts at risk if price breaks above $4,200 toward $4,400–$4,500 range.
• Ethereum ETFs see $795.56M in outflows, the largest since launch, dragging assets to $26.01B.
• BlackRock and whales accumulate BTC and ETH as Ethereum nears record quarterly close at $3,998.

Ethereum trades near $3,991 while Coinglass data shows over $10 billion in ETH shorts could face liquidation. If ETH climbs just 10%, price may hit the $4,400–$4,500 zone, triggering forced exits on major exchanges.

The ETH Exchange Liquidation Map reveals cumulative short leverage approaching $12 billion, while long liquidations stay limited. This imbalance highlights a clear risk for over-leveraged shorts if bullish momentum resumes.

A move above $4,200 could act as a catalyst for a rapid short squeeze across Binance, OKX, and Bybit platforms. However, failure to maintain price strength near $4,000 may leave bears in control for now.

ETF Outflows, Whale Activity, and Long-Term Structure Support Bulls

Despite potential upside, Ethereum ETFs recorded $795.56 million in weekly outflows as of September 26, 2025, according to SoSoValue. This marks the largest ETF withdrawal since their inception, cutting net assets to $26.01 billion.

The chart shows a steep drop in ETF holdings, contrasting with previous weekly inflows above $2 billion during bullish phases. Analysts believe this reflects either institutional profit-taking or fading short-term confidence in ETH.

ETH currently trades near key support zones, holding steady despite heavy ETF outflows. Continued withdrawals could pressure the $4,000 level, while stabilized inflows may restore market balance.

Meanwhile, BlackRock acquired $740 million in BTC and ETH, purchasing 3,875 BTC and 32,367 ETH last week. Whale wallets also added assets, with large withdrawals spotted from Binance and OKX within the past 24 hours.

On a broader timeframe, ETH is on track for its highest quarterly close ever with two days remaining in Q3. A confirmed W-structure breakout above $3,600 supports a long-term bullish target between $6,400 and $6,493.