Ethereum Price Surges Over 7%: $236M Liquidations Fuel ETH Recovery – What Happens Next?

Ethereum price has surged more than 7%, extending its recovery as buying momentum returns to the crypto market. Around $236.47 million in ETH positions were liquidated over two hours, with short positions accounting for $132.15 million. A short squeeze could accelerate the rally, but sustained spot buying will be needed to support further gains. Ethereum price has staged a strong rebound, climbing more than 7%, reclaiming the $2,400 mark as buyers return to the market. The rally comes amid a broader recovery across cryptocurrencies following the initial volatility triggered by the US midterm election results.