Ethereum has risen approximately 25% since Wednesday as institutional inflows, renewed derivatives activity and whale accumulation support the rally. The move followed a record cryptocurrency-market short-liquidation event of about $3 billion on Wednesday, with Ethereum accounting for roughly $1.2 billion, or 40%, as bearish traders were forced to close positions. Bitcoin has gained 21% in recent days to reach the $75,000 psychological level. Ethereum open interest rose 5% to $31.67 billion on Friday, while funding rates reached 0.081%, their highest level since late May. U.S. spot Ethereum ETFs recorded $219.50 million in net inflows Thursday, the largest single-day inflow since October. ETH has moved above key exponential moving averages, with resistance near $2,431 and initial support around $2,177. However, a 14-day RSI of 85 and a stochastic oscillator near 92 indicate overbought conditions, while elevated funding rates, profit-taking and new short positions could increase the risk of consolidation or a pullback.