Ether Powers Higher to $2,250 While Bitcoin Climbs Above $69,000

• Almost all major cryptocurrencies recorded double-digit weekly gains, with Tron the only major token failing to join the rally. Around $1.4 billion in short positions were liquidated after the Treasury expanded its bond-buyback program.
• Ether emerged as the strongest major performer, surging 18% over 24 hours to above $2,250 during Thursday’s Asian trading session. The rally lifted ETH’s weekly gain to roughly 20%.
• Bitcoin climbed to around $69,100, gaining nearly 8% over the past 24 hours and about 9% over seven days. BTC briefly approached $69,900 overnight, rebounding more than $5,700 from Wednesday’s low near $64,100.
• Hyperliquid’s HYPE token posted the biggest individual advance, rising more than 19% to just below $70 and bringing its weekly gain to around 24%.
• Solana jumped over 10% to approximately $84.50, while its seven-day gain stood near 12%.
• XRP rose 10% to $1.09, reclaiming the $1 threshold after briefly losing it Tuesday. The token was nearly 10% higher over the week.
• Dogecoin added close to 8%, trading at just under $0.075.
• BNB gained 3.5% to $626, although its weekly increase remained modest at slightly more than 2%.
• Tron traded near $0.33 with little change and remained the only major cryptocurrency posting a weekly loss.

Treasury Buybacks Boost Market Liquidity

• The crypto rally accelerated Wednesday after Treasury Secretary Scott Bessent announced plans to at least double the size of the Treasury’s bond-buyback operations.
• Traders interpreted the move as potentially supportive for liquidity in the more than $30 trillion US government bond market, helping fuel demand for risk assets.
• Bitcoin rose roughly 6% during US trading, while about $1.4 billion in short positions were liquidated over four hours as bearish traders rushed to close their bets.
• The bond rally continued into Asian hours. The 30-year US Treasury yield fell one basis point to 5.18% after dropping nine basis points Wednesday, while the 10-year yield slipped to 4.63%.
• A Bloomberg gauge tracking Treasury bonds with maturities of 20 years or longer jumped 1.7% Wednesday, recording its strongest daily gain since February 2025.
• Government bonds across Japan, Australia and New Zealand also advanced as the fixed-income rally spread through the region.

Trump Adds to Positive Crypto Sentiment

• Investor sentiment received another boost after President Donald Trump hosted executives from Coinbase, Gemini, Ripple and Chainlink Labs at the White House.
• Trump urged Congress to move forward with the Digital Asset Market Clarity Act, calling for lawmakers to agree on “a fair version” of the market structure legislation currently stalled in the Senate.

$2,200 Becomes Key Level for Ether

• Ether’s ability to stay above $2,200 could determine whether its latest breakout can hold.
• ETH has risen around 18% in a single day after spending weeks below the level.
• Because the surge has been driven primarily by broader liquidity and risk-on conditions rather than a catalyst specific to Ethereum, some of the gains could be vulnerable to a pullback if market momentum fades.