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.