- Ethereum price rallied beyond $4.1k, thus revisiting the highest level since December 2021.
- On-chain data shows significant liquidation of ETH short traders amid heightened whale activity.
- The ETH price bullish breakout is bolstered by robust fundamentals amid the anticipated 2025 altseason.
Ethereum just had a massive breakout. The price surged over 7% in the past 24 hours to hit a 44-month high of nearly $4,200 on Saturday.
This powerful move pushed ETH’s market cap back above $500 billion and finally broke the key $4,100 resistance that has capped bullish sentiment since December 2021.
A Brutal $183 Million Short Squeeze
This sudden, violent move upward triggered a massive short squeeze, wiping out bearish traders. In the last 24 hours, over $205 million in leveraged ETH positions were liquidated, with a staggering $183 million of that belonging to short sellers betting on a price drop. This is a clear sign the market was caught completely off guard.
Top Reasons Why Ethereum Price Surged Beyond $4.1k Today
Rising Demand from Whale Investors
According to on-chain data analysis from EmberCN, Ethereum whales have accumulated more than 1 million coins, worth $4.16 billion since July 10, 2025, to date. In the past 24 hours, a whale investor accumulated over 10k Ether, worth over $40 million from Galaxy Digital.
The U.S. spot Ether ETFs have recorded a net cash inflow of $326 million during the past week led by BlackRock’s ETHA. Meanwhile, SharpLink has led corporate investors in implementing Ether treasuries.
And there’s more coming. The institutional buys might just be the start. Here’s our report on a company that’s filed to buy up to $5 billion worth of ETH.
Short Squeeze
The sudden Ether price pump above $4.1k today has triggered a major short squeeze. Moreover, Ether traders who expected a correction similar to the last two years after ETH retested $4k have since turned bullish Ed following a forced liquidation.
Earlier today, a whale ETH trader was liquidated for more than $15 million after the ETH price rallied to $4.2k.
Robust Fundamentals
The Ethereum price bullish breakout above $4.1k has also been fueled by a clearer crypto regulatory outlook in major jurisdictions led by the United States. For instance, the recent enactment of the GENIUS Act in the United States has attracted more institutional investors to Ethereum’s stablecoin market.
Is Altseason 2025 Confirmed or Just ETH Season?
According to crypto analyst Benjamin Cowen, the recent crypto pump that pushed the total market cap above $4 trillion is fueled by the Ether season and not an altseason. Moreover, the ETH/BTC pair has been on the move amid the gradual decline of Bitcoin’s dominance.
Nonetheless, a rising speculation of the 2025 altseason will attract more FOMO (fear of missing out) traders and trigger a major bull rally.
What are the Midterm Targets for Ether?
From a technical analysis standpoint, Ether price is now well-positioned to retest its all-time high in the coming weeks. If ETH price is following a similar fractal pattern to the 2017 crypto summer, the next four weeks will be characterized by bullishness.
According to crypto analyst alias Captain Faibik, ETH price has just broken out of a multi-year triangular pattern with a midterm target of new ATH and a macro target of over $12k.
Good news on price, but… a legal storm is brewing for Ethereum’s developers. Here is the full story on the Tornado Cash case.
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