Ethereum Surges Past $2,600 Amid Short Squeeze and Market Volatility

Ethereum has broken through the $2,600 mark for the first time since mid-September. On September 18, its price stood at $2,616, a 6.7% increase over the previous day and a significant milestone in its recovery.

The rise is largely attributed to a short squeeze, where investors who had bet on a drop in Ethereum's value were forced to buy back into the market to cover their losses, driving up the price further. This has led some analysts to suggest that the move may not be sustainable without fresh investment from buyers.

Ethereum's market capitalization now stands at around $319 billion, keeping it firmly in second place behind Bitcoin. However, its price is still 47% away from its all-time high of $4,946 reached in August 2025.