Ethereum breaks the $2600 mark: The truth behind the short squeeze and the current points to focus o

Ethereum breaks through the US$2,600 mark: Data at a glance

Ethereum has exceeded the US$2,600 mark. According to CoinGecko, as of the evening of Friday, September 18, 2026, the price of ETH was US$2,616, up 6.7% from the previous day. The highest price of the day was US$2,622. This price is exactly the area where Ethereum rebounded in mid-September.

A large part of the rise was attributed to the so-called "Short Squeeze", which partly reflects the persistence of the trend. This document records price and clearing data. Regarding subsequent development, our editorial team will evaluate it and clearly mark it as opinion analysis.

Why US$2,600 is crucial to Ethereum

We described on September 14 how Ethereum was blocked at the US$2,600 mark. Such an area is called the "resistance level": the price range where many sell orders cluster, such as early investors who bought here hoping to exit the market without losing money. Once the resistance level is breached, it may turn into a "support level", the area where buyers intervene. Whether it works will be verified in the next few days.

Ethereum short squeeze event on September 18

据CoinDesk报道，在24小时内，价值约8,500万美元的以太坊空头头寸被强制平仓，整个加密货币市场的空头头寸清算金额约为4.7亿美元。“做空”是一种押注价格下跌的操作。任何使用借入资金进入空头头寸的人都必须缴纳保证金。如果价格上涨到足以耗尽保证金的程度，交易所将自动关闭该头寸，为此必须在市场上买回ETH。

这些强制买入进一步推高了价格，并触发了下一次清算。这就是“挤压”：空头被迫退出市场，并通过他们的强制买入推动了他们原本押注下跌的市场行情。在空头挤压中，空头交易者不得不自行买回并推高价格。

空头挤压揭示了什么

我们的评估：挤压解释了为何涨势如此迅猛，但并不能说明涨势能否持续。一旦杠杆化的空头头寸被清算，这种买入压力就会消失。只有当无杠杆的投资者入场，并且即使新闻流平静下来后价格仍保持在2,600美元以上时，突破才具有持久性。

美联储、日本银行和CFTC：本周推动加密市场的关键因素

This week started with bad news. On Tuesday, the CLARITY Act, the most important encryption legislation project in the United States, failed to pass the Senate. The U.S. central bank raised its key interest rate by 0.25 percentage points this week, while the Bank of Japan raised interest rates by the same amount early Friday morning. Typically, higher interest rates make risky assets less attractive.

Despite this, the market continued to rise, which was related to reverse movement. On September 17, the U.S. futures regulator, the Commodity Futures Trading Commission (CFTC), submitted two proposed rules for the crypto market to the White House for review. This is seen as a signal that regulation is advancing even without new laws. Combined with previous liquidation events, Friday's recovery was formed.

Ethereum Leveraged Trading: How Positions Are Liquidated

This week's liquidation not just affects professionals. Many exchanges also provide leverage to retail customers with a simple mechanism. At 10 times leverage, a price swing of about 10% in an unfavorable direction is enough to exhaust your margin, which is slightly smaller after deducting fees. At 5 times leverage, this ratio is about 20%. On Friday, Ethereum fluctuated by nearly 8% between its lowest and highest price in a single day.

Therefore, anyone holding a leveraged position should understand its clearing price (shown in the position overview for each exchange) and compare it to the daily range of fluctuations in recent weeks. If the clearing price falls within this range, ordinary price fluctuations may cause the position to be cleared. Leveraged products are not suitable for most retail investors, and this week's data proves it.

以太坊对比特币：ETH/BTC比率说明了什么

根据CoinGecko周五晚间的数据，以比特币计价，1 ETH的价格约为0.0323 BTC。该比率显示了以太坊是依靠自身动力上涨，还是仅仅跟随比特币的后尘。在本周五，ETH上涨了6.7%，略高于比特币的5.8%，但仍远远落后于Solana的11.5%。因此，以太坊受益于复苏，但并非领涨者。

对于同时持有这两种货币的投资者来说，这是一个有用的参考指标。如果该比率在数周内上升，你的投资组合中以太坊的比重会增加，而你无需购买任何东西。任何旨在保持固定配置的人，应在像这样的一周过后重新计算，看看权重是否与计划相符。

以太坊质押：上涨后检查收益率和佣金

对于长期持有者来说，质押是交易的替代方案。你存入ETH以保护网络，并获得奖励。你能获得多少奖励很大程度上取决于提供商的佣金。根据不同平台，佣金范围从奖励的百分之几到四分之一不等。具体的计算方法请参阅我们关于以太坊质押佣金的文章。

卖出还是持有以太坊：持有期与免税额度

任何在8月份以约2,100美元的价格买入的人，现在显然处于盈利状态。在德国，出售是否产生税务成本取决于持有期。根据德国所得税法第23条，以太坊被视为私人销售交易。在一年内，如果当年所有私人销售的收益总和超过1,000欧元的免税额，则收益需纳税。超过一年后，即使期间代币曾被质押，收益也是免税的。如何确定个别购买的截止日期，请参阅我们关于以太坊利润和持有期的指南。

以太坊钱包：活跃日后撤销代币授权

在价格大幅波动的日子里，去中心化交易所的活动增加，用户授予智能合约的授权数量也随之增加。此类代币授权允许合同从你的钱包中转移代币，通常没有上限且没有到期日期。如果合同后来受到攻击，授权的代币将面临风险。任何在本周进行过交易的人都应检查其开放的授权，并撤销不再需要的授权。具体操作方法请参阅关于撤销代币授权的文章。

以太坊价格：当前哪些水平值得关注

在下行方面，2,600美元附近区域是第一个测试点。如果守住，这将证明是一次真正的突破。如果ETH跌回其下方，则该走势可能主要归功于清算。每日低点约2,436美元标记了下一个区域。在上行方面，许多分析将3,000美元视为下一个更大的目标；我们在以太坊3,000美元预测中总结了相关情景。

以太坊价格与空头挤压：总结要点

• 不加杠杆，分批买入：挤压后，价格在短期内往往过度拉伸。建议在交易所比较后，分几次购买以分散入场时机。
• 质押时重新计算佣金：提供商之间的差异比许多人想象的要大。你可以在质押比较中对比条款。
• 出售前检查持有期：任何人通过多次购买积累了ETH，都需要清晰的记录。加密税务工具可以显示哪些代币已经免税。