According to Cas Abbé, Abraxas Capital has purchased 50,000 ETH valued at $112.5 million on Binance and Kraken within the past 24 hours, triggering a 20% daily price surge for Ethereum. This aggressive buying activity led to over $200 million in short liquidations, marking the start of what is being called ETH's most hated rally. Traders should monitor for heightened volatility and potential continuation of the upward momentum, as large-scale liquidations can further fuel price acceleration (Source: Cas Abbé, Twitter, May 9, 2025).