On October 12, 2026, Ethereum rallied past USD 2,500, leading to notable liquidations across the cryptocurrency derivatives sector. According to CoinGlass, Ethereum suffered over USD 48 million in liquidations in the past 24 hours, and the majority of the losses were among bearish investors.
Ethereum Short Liquidations Reach USD 38.17 million
Ethereum liquidations totaled USD 48.25 million. Short positions made up USD 38.17 million (79.1% of total liquidations). Long positions contributed USD 10.07 million, which amounted to around 20.9%.
Short liquidations were nearly 3.8 times higher than long liquidations, indicating substantial pressure on traders expecting further price declines. Among the top cryptocurrencies, Ethereum had the most liquidations at USD 46.80 million, followed by Bitcoin at USD 14.83 million and Zcash at USD 14.83 million.
Ethereum Price Rises Above USD 2,560
Ethereum trades at USD 2,569.31, rising by 2.38% in the last 24 hours. The cryptocurrency had a range between USD 2,495.93 and USD 2,570, suggesting renewed buying activity. Its trading volume stood at USD 9.55 billion, and its market cap was USD 313.66 billion.
Additionally, ETH gained approximately 1% against Bitcoin, trading at 0.03047 BTC. This indicates that Ethereum has recovered faster than Bitcoin, though the market remains uncertain.
Derivatives Activity Remains Elevated
According to CoinGlass, Ethereum’s perpetual futures open interest has risen to USD 44.84 billion. Even after significant liquidations, derivatives positions were high, indicating that leveraged trading is driving the markets.
As exchanges close losing bearish positions automatically, short liquidations can help push prices higher, adding to the buying pressure. However, similar rallies could fall apart if there is no continued buying pressure from spot market participants.
Key Ethereum Price Levels to Watch
Ethereum has immediate support around USD 2,567.88, a recent daily high. A sustained breakout could support further upward momentum, while USD 2,500 remains an important psychological support level. It is also important to keep an eye on funding rates and open interest as signs of new speculative positioning.
Final Thoughts
Ethereum’s recovery shows signs of improving momentum in the short term, and notable bearish liquidations. But meaningful improvements will be subject to market demand, derivatives positioning and market conditions surrounding the cryptocurrencies.
Also Read: Citrini Research Says AI Agents and Tokenization Could Transform Crypto Investing
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
