Ethereum Jumps Nearly 30% in a Week as Spot ETF Inflows Return and Short Squeeze Builds

Ethereum climbed close to 30% over the past week, according to a Whale Alert signal timestamped August 23, 2026. The move appears to be fueled by two concurrent catalysts: renewed inflows into spot Ethereum ETFs and a sharp rise in short liquidations that intensified upward momentum. Short squeeze dynamics added to the rally. As ETH advanced, short positions were forced to unwind on exchanges, triggering automatic buybacks that can push prices higher and accelerate gains. Whale Alert flagged short sellers as the primary side caught wrong-footed during the week's surge. A second tailwind came from fresh demand via spot Ethereum ETFs. Unlike leveraged derivatives activity, spot ETF inflows typically translate into real ETH purchases, a structure often viewed as supportive for price. Market Snapshot At the time of writing, ETH was trading at $2,395.89, down 1.35% over the last 24 hours. Ethereum's market capitalization stood at about $289.14 billion, while 24-hour trading volume was $14.96 billion. The day's modest pullback follows an extended weekly rally, consistent with typical post-run consolidation. Key figures - Weekly ETH gain: nearly 30% - Main drivers: resuming spot ETF inflows and accelerating short liquidations - Price: $2,395.89 (−1.35% over 24 hours) - Market cap: ~$289.14 billion - 24h volume: $14.96 billion - Signal timestamp: August 23, 2026 Source: Whale Alert · Published by CoinsProbe Markets Desk