Ethereum Surges Past $4,300 with $247M Short Squeezes, Eyes All-Time High
Ethereum price broke above $4,300 for the first time in 2025, hitting $4,332 on OKX and marking a nearly 7% gain in 24 hours. The rally was driven by both fresh buying interest and a massive short squeeze that liquidated $247 million in ETH positions—far outpacing Bitcoin liquidations. Analysts say that if Ethereum can hold above the $4,000 support level, the next resistance zone lies around $4,430. A successful break there would pave the way toward Ethereum’s all-time high near $4,870.
Meanwhile, Bitcoin remains range-bound around $116,000, leaving Ethereum to lead the market momentum. On the staking front, Ethereum shows high exit interest: around 470,000 ETH waiting to be unstaked compared to just 50,000 ETH entering the validator queue. This indicates that some investors are freeing up assets to remain nimble amid volatility.
Bullish
Ethereum’s breach of $4,300 and the extraordinary $247 million short squeeze signal strong bullish momentum. Historically, large short-liquidation events—like the March 2024 ETH rally—have led to sustained upward runs as forced buy-ins amplify the trend. Holding above $4,000 will shift market focus to the $4,430 resistance. A clean break could trigger a test of the previous all-time high around $4,870. Short-term, traders may see minor pullbacks after the squeeze, but the overarching trend remains positive, supported by robust demand and tightening supply from exit-queue dynamics. In the long term, continued adoption of Ethereum and upcoming network upgrades could reinforce this bullish outlook.