365Crypto
Ether just pulled a wild move. After Ethereum’s big Pectra upgrade went live, ETH jumped nearly 20% in a single day. That’s not just a little bounce—it’s a full-on moon shot. Some traders are calling this the “turning point” after months of slow, sad price action.
ETH was sitting at $2,230, up from $1,860 the day before. That’s a 19.6% rise. Even Ether’s open interest shot up 21%, meaning more folks are betting on it now. One trader, Daan Crypto Trades, called the price candle “pretty insane.” Honestly, not wrong.
Why the sudden pump? Pectra brought in some serious upgrades—new wallet features, higher staking limits, and a boost to Ethereum’s scalability. That combo clearly lit a fire under the market.
Alex Kruger, another trader, says this wasn’t just hype. The rally came from a bunch of new long positions. But if ETH drops back to $2,000, more than $2 billion in longs could be at risk of liquidation. That’s a lot of people sweating right now.
In fact, short sellers just took a $328 million hit. Ouch.
Trader Bob Loukas thinks we may finally be turning a corner. It’s been a rough 2025 for Ether, dropping from $3,340 to $1,472 earlier this year. That’s a brutal 56% loss. But in the last month, ETH has clawed back up 52%.
Meanwhile, Bitcoin’s doing its own thing—up 3.6% in a day and over 6% in a week, topping $100K again for the first time in three months. That gave the whole crypto market a boost. Prices rose 4.95% across the board, and the Fear & Greed Index moved up to 73—deep in “Greed” territory.
But this isn’t just about Pectra. Nick Forster, founder of Derive, says other events helped too. Like Trump’s new UK trade deal cutting tariffs on British goods, and Coinbase buying Deribit for $2.9 billion.
Still, not everyone’s riding the wave. Spot Ether ETFs saw $16.1 million in outflows—on their third straight day of losses. But historically, Q2 is good for ETH, with a 62% average return. If that trend holds, $2,950 might not be far off.
*(Footnotes:
Open Interest: Total number of open futures contracts that haven’t been settled.
Long position: A bet that a price will go up.
Liquidation: Forced sale of assets when prices drop too far against a bet.
ETF: Exchange-traded fund, a way to invest in crypto like a stock.)*
