Ethereum clears $2,600 as $85M ETH shorts liquidate in Friday squeeze
By 8bitcrypto
September 18, 2026
Ethereum cleared the $2,600 mark on Friday evening, standing at about $2,616 on CoinGecko data—6.7% above the prior day—with a daily high of $2,622, CryptoTicker reported. The zone is the same resistance ETH failed at earlier in mid-September, turning Friday’s reclaim into the day’s clearest on-chain culture wire for NFT desks that settle gas and bids in ETH.
A large share of the speed came from a short squeeze. CoinDesk data cited by CryptoTicker shows roughly $85 million in Ethereum short positions forcibly closed within 24 hours, inside about $470 million of crypto-wide short liquidations. Shorts that post collateral get auto-closed when price rises far enough; exchanges buy ETH back to close those bets, and that forced buying can push the next wave of liquidations in a loop traders call the squeeze.
That mechanic is the lore collectors should keep straight. A squeeze explains why the tape ripped through $2,600 quickly; it does not by itself prove the level will hold once leveraged shorts are gone. CryptoTicker’s editorial frame—and this desk’s—is that durability shows up only if unlevered buyers keep ETH above the reclaim after the liquidation pulse fades and the headline quietens.
The daily range ran from about $2,436 to $2,622, almost an 8% swing inside one session. Weekly ETH was up only about 1.7%, while the 30-day change sat near 25%, with market capitalization around $319 billion. Despite the recovery, CoinGecko-based coverage still put ETH roughly 47% below its August 2025 all-time high near $4,946—a reminder that Friday’s cheer sits well under the prior cycle peak.
Relative strength mattered for culture desks watching which chain narrative led Friday. Measured in bitcoin, one ETH cost about 0.0323 BTC on Friday evening CoinGecko data. ETH’s 6.7% day beat bitcoin’s about 5.8% but trailed Solana’s about 11.5%, so Ethereum joined the recovery without owning the beta crown that Solana held on the same tape.
Macro backdrop remained hostile on paper: Clarity Act cloture failed earlier in the week, the Fed hiked, and the Bank of Japan followed overnight into Friday. CryptoTicker ties Friday’s bounce partly to a counter-read that U.S. futures regulation can still advance after the CFTC sent crypto market prerule work to White House review—context already covered on 8bitcrypto’s policy desk, restated here only as atmosphere around the ETH reclaim rather than a fresh policy scoop.
For NFT collectors, the practical checklist is boring and necessary. Gas-denominated mints and bids feel cheaper when ETH is rising only if you already hold ETH; if you buy ETH into a squeeze high to chase a mint, you can overpay the same way leveraged shorts get trapped. Active DEX days also mean more token approvals—revoke unused allowances after volatile sessions rather than leaving unlimited spend permissions open on marketplace routers.
Plain-English takeaway: ETH reclaimed $2,600 into the $2,616–$2,622 area on Friday with about $85 million of ETH shorts liquidated in a day, per CoinDesk figures relayed by CryptoTicker. Treat the squeeze as the speed story, treat a hold above $2,600 as the durability test, and do not invent NFT volume claims the price wire did not publish.
Levels to watch without forecasting: first support around the reclaim, then the session low near $2,436 if that fails. Upside chatter naming $3,000 remains analysis, not a Friday fact. Attribute the prints and liquidation totals to CoinGecko and CoinDesk via CryptoTicker’s September 18 wrap, and keep leveraged retail risk in view whenever daily ranges approach double-digit percentage swings.
If you only keep one Friday habit from this tape, keep this: separate forced short covering from organic NFT demand. The first can light the chart in an hour; the second is what pays for sustained marketplace floors after the liquidation bots go quiet.
None of that habit replaces a primary price check. Refresh CoinGecko and your venue’s liquidation board before you treat any secondary wrap as the last word on Friday’s ETH reclaim.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
