Ethereum (ETH) has officially broken through the $3,000 mark for the first time in 2025, now trading at approximately $3,020.86.
The milestone represents a dramatic turnaround from its April low of $1,794.
The move signaled renewed strength and investor confidence in the world’s second-largest cryptocurrency.
The rebound follows a tough eight-month stretch that saw ETH fall from its January opening near $3,298.
The development came amid battling through sharp pullbacks in February ($2,900), March ($2,650), and culminating in April’s steep drop.
The $3,000 reclaim is not just symbolic, it establishes a strong psychological and technical support level, renewing hopes of a push toward the next major resistance near $4,000.
Bitcoin’s All-Time High Fuels Ethereum’s Surge
Ethereum’s breakout has come in tandem with Bitcoin’s explosive rally to new all-time highs above $118,400.
The surge in Bitcoin has created ideal market conditions for ETH to follow suit, reinforcing its correlation to the broader crypto market leader.
The synchronized movement is being dubbed a “perfect storm” for digital assets, sparked in part by renewed institutional interest.
It also showed reduced macro uncertainty, and a dramatic liquidation event across crypto futures markets.
President Donald Trump’s recent pro-crypto statement on Truth Social, declaring that crypto is “through the roof”, added more fuel to the fire, triggering a massive wave of retail and institutional buying pressure.
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Liquidation Frenzy Pushes ETH and BTC Higher
The sharp upswing in Ethereum and Bitcoin prices has been partly driven by a market-wide short squeeze.
In the last 24 hours alone, over $1.13 billion in leveraged positions were liquidated, with $1.01 billion of those being short positions.
Ethereum futures alone saw $247 million in liquidations, while Bitcoin futures led the charge with $658.19 million.
These forced buybacks rapidly drove prices higher, catching bearish traders off guard.
Open interest on Bitcoin futures rose by $2 billion in just four hours, and long-short ratios now show a bullish bias of 52%, suggesting that the market anticipates further gains from here.
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Massive Losses Hit Short Sellers Across Major Platforms
The scale of the liquidation wave highlights the aggressive mispositioning of traders across major exchanges.
Approximately 237,000 traders were liquidated, with the largest single hit being an $88.5 million BTC-USDT short on HTX.
Most of the liquidations were concentrated in short positions, showing nearly 90% of the market was caught betting against the rally.
Bybit absorbed the bulk of the impact with $461 million in total liquidations, 93% of which were shorts.
Binance and HTX followed closely with $204 million and $193 million in losses, respectively, emphasizing how rapidly the market turned against bearish speculators.
Ethereum’s Technical and Market Strength Grows
With the current price of Ethereum at $3,015.61 and a daily trading volume exceeding $46 billion, ETH has recorded a 7.96% gain in the past 24 hours and a 17.07% increase over the past week.
Its circulating supply of 120 million ETH places its total market capitalization at over $364 billion.
These strong metrics reflect growing investor confidence, rising demand, and improving technical structure.
If momentum continues and macro conditions remain favorable, Ethereum could soon set its sights on the $4,000 resistance, potentially kickstarting a new phase in its 2025 market cycle.
Exchange data confirms that $250 million in ETH positions were liquidated in the past 24 hours, with short positions making up a staggering 83.2% of those losses.
The sheer volume of activity and liquidity pouring into Ethereum underscores the strength of the breakout.
Also it adds fuel to growing speculation that the $4,000 mark could be Ethereum’s next major milestone.