Why is Ethereum ($ETH ) price up today?

Ether’s price is up 10% today as tariff-induced fear wanes and risk-on mode among derivatives traders boosts the ETH market.

Key takeaways:

ETH price rebounds alongside Bitcoin and major altcoins as the US-China tariff war de-escalates.

Short liquidations in the ETH Futures market.

Renewed enthusiasm among derivatives traders.

Ether price technical breakout has a target of $2,100.

Ether  rose on April 23, up 10% in the last 24 hours to trade at $1,795 amid increasing optimism over the de-escalation of the US-China tariff wars. Its daily trading volume has jumped by 67% to $26.6 billion, reinforcing the intensity of the demand-side activity.

$110M in short ETH positions liquidated

Ether’s bullishness on April 23 is accompanied by significant liquidations in the derivatives market, signaling strong upward pressure.

Over $109 million worth of short ETH positions have been liquidated over the last 24 hours, compared to $22 million in long liquidations.

Bearish traders’ positions are forcibly closed when short positions are liquidated.

The scale of these liquidations mirrors the March 19 liquidation event, when a total of $72.29 million in short ETH positions were wiped out. This accompanied a 13% rise in price from a low of $1,840 to a ten-day high of $2,020 on the same day.
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