Ethereum Breaks Through $2,600 Mark Amid Short Squeeze

Ethereum broke through the $2,600 mark on September 18, 2026, with prices reaching $2,616 according to CoinGecko data. This represents a 6.7 percent increase from the previous day's price.

The surge is largely attributed to a short squeeze, where forced purchases pushed the price up as short sellers were liquidated. Over $85 million in short positions on Ethereum were closed within 24 hours, and around $470 million across the entire crypto market.

This phenomenon explains why the rise came so quickly, but it's uncertain whether it will hold. The breakout becomes durable only when investors without leverage buy in and the price stays above $2,600, even as news flow quietens down.