Ethereum breaks $2,600 after $85 million short squeeze
- —ETH rose 6.7% to $2,616, daily range $2,436–2,622
- —$85 million in ETH shorts and $470 million market-wide were liquidated
- —Over 30 days ETH gained about 25%, over a week 1.7%
- —Ethereum's market cap is about $319 billion, still 47% below its $4,946 high
Why it matters: Breaking resistance at $2,600 could turn it into support, but sustainability depends on buyers arriving without leverage.
Source: CryptoTicker