{"id":128889,"date":"2025-05-09T06:17:33","date_gmt":"2025-05-09T06:17:33","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128889"},"modified":"2025-05-09T06:17:33","modified_gmt":"2025-05-09T06:17:33","slug":"ether-clocks-insane-20-candle-post-pectra-a-turning-point","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128889","title":{"rendered":"Ether clocks \u2018insane\u2019 20% candle post Pectra \u2014 a turning point?"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsEther surged 20% in the past 24 hours following the launch of the Pectra upgrade, with some crypto traders suggesting the growing number of ETH long positions could mark a \u201cturning point\u201d for the asset that has faced uncertain sentiment throughout most of 2025.<br \/>\nAt the time of publication, Ether (ETH) is trading at $2,230, up 19.6% over the past 24 hours, according to CoinMarketCap data. Pseudonymous crypto trader Daan Crypto Trades said it was a \u201cpretty insane candle.\u201d Over the same 24 hours, Ether Open Interest (OI) spiked 21%.\u00a0<br \/>\nEther price pump caught traders offside<br \/>\nThe surge followed the long-awaited Pectra Upgrade, which went live on May 7, introducing new wallet features, increased staking limits and scalability improvements to Ethereum.<br \/>\nPopular crypto trader Alex Kruger said on May 8 that Ether\u2019s price spike was primarily due to \u201cnew longs.\u201d<br \/>\nIf Ether were to fall back to $2,000, approximately $2.06 billion in long positions would be at risk of liquidation, according to CoinGlass data. The price surge caught many traders offside, with approximately $328 million in Ether short positions liquidated over the same period.<br \/>\nCrypto trader Bob Loukas said, \u201cETH holders thinking this might finally be the turning point.\u201d<br \/>\n2025 has not been a strong year for Ether\u2019s price, which fell 56% from its Jan. 1 price to $1,472 by April 9 \u2014 its lowest point this year \u2014 as sentiment weakened throughout the year.<br \/>\nEther is up 52% over the past 30 days. Source: CoinMarketCapEther\u2019s recent rally coincides with Bitcoin (BTC) gaining 3.59% over the same period and nearly 6% over the past seven days, reclaiming the $100,000 mark on May 8 for the first time in over three months.\u00a0<br \/>\nIn comments to Cointelegraph, onchain options protocol Derive founder Nick Forster said Ether\u2019s recent price surge was due to a combination of factors, beyond just the Pectra hard fork.\u00a0<br \/>\nForster pointed out the US trade deal with the UK, where US President Donald Trump \u201cslashed tariffs on British cars and steel.\u201d He also pointed to the crypto exchange Coinbase, which announced the acquisition of Deribit for $2.9 billion.<br \/>\nRelated: Ethereum price finally \u2018breaking out,\u2019 data suggests \u2014 Is $3K ETH next?<br \/>\nSince 2013, Ether has averaged a 62.2% return in the second quarter. Based on its price on April 1, Ether could reach around $2,950 by the end of June if history repeats.\u00a0<br \/>\nHowever, the momentum has not crossed over with spot Ether ETFs yet. For the third day running, spot Ether ETFs posted outflows on May 8, totaling $16.1 million, according to Farside data.<br \/>\nMeanwhile, the overall crypto market also saw an uptick in prices and sentiment following Bitcoin\u2019s surge. Over the 24 hours, the entire crypto market surged 4.95%, and the Crypto Fear &amp; Greed Index has moved further into \u201cGreed\u2019 territory, bumping up another 8 points to a score of 73.<br \/>\nMagazine: ChatGPT a \u2018schizophrenia-seeking missile,\u2019 AI scientists prep for 50% deaths: AI Eye<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/ether-price-insane-candle-pectra-upgrade-turning-point-crypto-traders?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsEther surged 20% in the past 24 hours following the launch of the Pectra upgrade, with some crypto traders suggesting the growing number of ETH long positions could&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128889"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128889"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128889\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128889"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}