Ethereum continued its strong rally Friday as institutional inflows, renewed derivatives activity, and whale accumulation supported prices following a historic wave of short liquidations. ETH has climbed approximately 25% since Wednesday, pushing above several major technical indicators and bringing the $2,431 resistance level into focus. Ethereum's rally comes as Bitcoin added 21% to its value in the last few days to hit the $75,000 psychological level. However, elevated funding rates, profit-taking, and new short positions suggest the rally could encounter volatility as traders weigh the possibility of a pullback. Historic $3 billion short squeeze fuels Ethereum rally The cryptocurrency market recorded approximately $3 billion in short liquidations Wednesday, marking its largest such liquidation event on record.