Ethereum short liquidation at $4,455 signals short-term bullish squeeze

I see that ETH shorts were liquidated around an average price of $4,455, totaling about $111,375 and executed by bots. That forced short-covering and likely produced a quick upward impulse.

I view this as a bullish short-term signal from a short squeeze, but it’s a single event and can lead to increased volatility. I’m waiting for follow-through or a clear retest of support before committing significant capital.