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

The price of Ethereum received a boost as regulations and investor sentiment leaned in favor of ETH.

Key takeaways:

The price of ETH rose 22% on May 8, but demand for ETF and spot ETH derivatives remains scarce.

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

Ether (ETH) recorded an impressive increase of 29% 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 positions (selling) of ETH futures, suggesting that whales and market makers were caught off guard.