Binance Liquidates $3.01 Million Ether Short Position at $2,348 Following Earlier Long Squeeze

Ether experienced sharp two-way leverage liquidations on Binance's perpetual futures market on October 24. A single $3.01 million Ether short position was forcibly liquidated at $2,348 at 4:01 p.m. ET (20:01 UTC), signaling upward price pressure. This followed an earlier liquidation event at 11:15 a.m. ET (15:15 UTC), when Binance's automated risk engine closed an isolated Ether long position worth $11.85 million at $2,308 as market prices dropped below maintenance margin levels.