Ether trades near a major leverage zone as open interest rose and short positions clustered around $2,000. Will bulls trigger a strong liquidation?

Wallet 0x50b3 opened a $100.33M ether short at 23x leverage on Hyperliquid on May 25, with automatic liquidation triggered if ETH reaches $2,149.84.

Ether trades near a major leverage zone as open interest rose and short positions clustered around $2,000. Will bulls trigger a strong liquidation?

Ether has fallen below $2,000 while futures open interest surges to a record high.