đ ETH Is Sending a Signal â Short Squeeze Meets ETF Demand
Ethereum broke above $2,600 (touching $2,660, its highest since January), up 8.3% in 24 hours, as $255M in short positions got liquidated â the forced buying added fuel on top of already-strong demand.
What's actually driving this:
đ BlackRock's ETHA extended a 20-day consecutive inflow streak ($251M+ net inflows) â this isn't just a leverage-driven spike, there's real ETF demand underneath it
đ RSI has climbed to ~74 (overbought territory) â some near-term cooling wouldn't be surprising even within an intact uptrend
đ Key level to watch: $2,453 support â a daily close below this would damage the bullish setup; the 200-period EMA sits near $2,534 as the next technical hurdle
For spot traders, the real signal isn't the green candle â it's what happens next:
Watch whether buyers keep defending $2,450-2,500 on any pullback, or whether this was purely short-covering with no durable demand behind it. Remaining short liquidity above current levels is comparatively thin (~$422M), so further squeeze fuel is limited â the next leg likely needs genuine spot buying, not just forced covering.
Not financial advice â market awareness only. Data as of Sep 12, 2026.
$ETH $BNB $XRP
#EtherRalliesAsBearishBetsLiquidate #Ethereum #CryptoMarkets #iqralogichub
Ethereum broke above $2,600 (touching $2,660, its highest since January), up 8.3% in 24 hours, as $255M in short positions got liquidated â the forced buying added fuel on top of already-strong demand.
What's actually driving this:
đ BlackRock's ETHA extended a 20-day consecutive inflow streak ($251M+ net inflows) â this isn't just a leverage-driven spike, there's real ETF demand underneath it
đ RSI has climbed to ~74 (overbought territory) â some near-term cooling wouldn't be surprising even within an intact uptrend
đ Key level to watch: $2,453 support â a daily close below this would damage the bullish setup; the 200-period EMA sits near $2,534 as the next technical hurdle
For spot traders, the real signal isn't the green candle â it's what happens next:
Watch whether buyers keep defending $2,450-2,500 on any pullback, or whether this was purely short-covering with no durable demand behind it. Remaining short liquidity above current levels is comparatively thin (~$422M), so further squeeze fuel is limited â the next leg likely needs genuine spot buying, not just forced covering.
Not financial advice â market awareness only. Data as of Sep 12, 2026.
$ETH $BNB $XRP
#EtherRalliesAsBearishBetsLiquidate #Ethereum #CryptoMarkets #iqralogichub