The price of Ethereum would continue to rise after a surprising 29% rebound

The price of Ethereum received a boost as regulation and investor sentiment leaned in favor of ETH. The price of ETH rose by 22% on May 8, but demand for spot ETH ETFs and derivatives remains scarce.

President Trump's reversal on certain altcoins aligns with the renewed outlook for ETH.

Ether (ETH) recorded an impressive 29% increase between May 8 and May 9, likely marking the end of a 10-week bear market that bottomed out at USD 1,385 on April 9. This sharp movement triggered the liquidation of over USD 400 million in short (sell) positions of ETH futures, suggesting that whales and market makers were caught off guard.

Despite the rise, traders have maintained a neutral stance on ETH derivatives. It remains to be seen whether this apparent lack of conviction reflects a genuine trend change or simply precedes another test of the USD 2,000 level.