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Ethereum Liquidations Hit $400M as Traders Eye $10K Target

Powell’s dovish tone propels $ETH to record highs, but leverage wipeouts reveal risks.

Key Points

ETH hit $4,885, surging nearly 15% after Powell hinted at September rate cuts.

Over $388M in ETH liquidations occurred in 24 hours, the largest among all crypto assets.

Total crypto market liquidations topped $769M, wiping out 183,000 traders.

Analysts now see ETH’s long-term potential above $10K, driven by stablecoin adoption and institutional flows.

ETH Surge Meets Heavy Liquidations

Ethereum’s breakout past $4,800 triggered the heaviest flush in the market, with a single $10M ETH swap liquidation on OKX marking one of the largest losses. Such wipeouts underline the risks of leveraged trading, where exchanges close positions as prices move sharply.

Bitcoin, meanwhile, gained a modest 4% to $113,000, while the CoinDesk 20 Index rose 9%.

Institutional Demand & $10K Outlook

Analysts suggest ETH’s rally isn’t just macro-driven but also fueled by institutional buying and corporate treasury allocations.

“Ether’s new all-time high is a clear sign of demand beyond just bitcoin. I expect $ETH to surpass $10K once U.S. stablecoin payment solutions roll out,” said Samir Kerbage, CIO at Hashdex.

Ethereum has gained 45% year-to-date, reinforcing its role as the backbone for stablecoins, tokenization, and smart contracts.

✅ Bottom Line: ETH’s surge highlights growing institutional confidence and a possible path to $10K — but nearly $400M in liquidations show just how risky leverage remains.

SHoRT

🚨 Ethereum Breakout!

ETH hits $4,885 (+15%) 🎉

Nearly $400M liquidations in 24hrs ⚡ (biggest = $10M on OKX)

Total market wipeout: $769M, 183k traders out ❌

Analysts: ETH could hit $10K once stablecoin payments roll out in the U.S. 🇺🇸💵

ETH YTD gain: +45% 📈

🔥 $ETH cementing itself as backbone of stablecoins, tokenization & smart contracts.