"Ethereum Breaks $2,600 Barrier: Bullish Momentum and Short Squeeze Drive Rally"

“Ethereum Breaks $2,600 Barrier: Bullish Momentum and Short Squeeze Drive Rally”

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Ethereum Crosses $2,600: Rising Volume and Short Squeeze Fuel Rally

Ethereum has jumped above $2,600, gaining strong momentum and market interest. The 8.1% rise in the last 24 hours came after it broke a key resistance level at $2,575 during July 3 trading.

Ethereum Breaks Key Level With Strength

Ethereum’s price saw a solid upward move, breaking past the $2,500 mark after trading sideways for a while. It reached a new short-term high above $2,600. This rise is backed by a bullish market structure and increasing investor confidence, especially among big players.

The upward trend is supported by higher lows and strong green candles, showing clear buying pressure. Trading volume reached $22.7 billion in the last 24 hours, showing growing interest. Ethereum is now priced at $2,605.84 and remains the second-largest cryptocurrency by market value.

What makes this rally stronger is Ethereum’s controlled supply. The total number of ETH tokens is capped at 120.7 million, with no new tokens being added. This fixed supply adds confidence to the rally and removes inflation-related concerns. Ethereum’s proof-of-stake system helps maintain this limit.

Rising Short Positions Set the Stage for a Short Squeeze

Ethereum’s price increase comes as many hedge funds are heavily betting against it. Futures data from CME, shared by analyst Crypto Rover, shows that short positions have been building up since early 2023. These bets against ETH peaked between January and May 2025.

Now, with Ethereum breaking above $2,575, many of these bearish bets could be at risk. The current rally might lead to a short squeeze, where traders who bet against ETH are forced to buy back at higher prices. This would add more buying pressure and push the price even higher.

Ethereum is also doing better against Bitcoin, now worth 0.02382 BTC—up 4.5%. This suggests a shift in sentiment. While traders were mostly bearish in early 2025, Ethereum’s price trend has changed to higher lows and stronger demand. Each price dip has been met with support and less selling pressure.

If Ethereum moves above $2,650, the market could become even more volatile. Traders betting on a price fall might be forced to exit their positions, further boosting Ethereum’s rise. Its strong supply structure and momentum in both spot and futures markets add confidence to this possible breakout.

Disclaimer:

The information provided is for informational and educational purposes only and should not be considered financial, investment, or legal advice. We do not guarantee the accuracy, completeness, or reliability of any information presented. Any financial decisions you make based on this content are at your own risk. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Investing involves risk, and past performance is not indicative of future results. We are not responsible for any losses or damages resulting from your actions.

Read More “Pi Network Under Fire: Token Unlock Triggers Price Drop and Investor Concerns”

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