Ether Surges 18% Past $2,250 as Bitcoin Breaks Above $69,000

Nearly all major cryptocurrencies posted double-digit weekly gains, with Tron the only exception, while about $1.4 billion in short positions were liquidated after the Treasury increased its bond-buyback activity.
Ether jumped 18% over 24 hours to slightly above $2,250 during Thursday’s Asian session, more than twice Bitcoin’s daily advance. Its weekly gain reached 20%, making ETH the strongest performer among the major cryptocurrencies.
Bitcoin traded around $69,100, gaining nearly 8% in 24 hours and about 9% over the week after briefly approaching $69,900 overnight. From Wednesday’s low near $64,100, BTC has climbed more than $5,700.
Hyperliquid’s HYPE token led the major gainers, rising more than 19% to just below $70 and extending its weekly advance to 24%.
Solana climbed more than 10% to around $84.50, putting its seven-day gain at roughly 12%.
XRP added about 10% to $1.09, reclaiming the $1 mark for the first time since losing it Tuesday and bringing its weekly gain close to 10%.
Dogecoin also advanced, rising nearly 8% to just under $0.075.
BNB was among the laggards, gaining about 3.5% to $626 and posting a weekly increase of just over 2%.
Tron was nearly unchanged at around $0.33 and remained the only major cryptocurrency trading lower over the week.
The broader rally began Wednesday after Treasury Secretary Scott Bessent announced that the Treasury would at least double the size of its bond-buyback operations. Traders interpreted the move as a potential boost to liquidity in the more than $30 trillion US Treasury market.
Bitcoin gained roughly 6% during the US trading session, while around $1.4 billion worth of short positions were liquidated within four hours as bearish traders rushed to exit.
The bond rally continued into Asian trading. The 30-year US Treasury yield declined one basis point to 5.18% after falling nine basis points Wednesday, while the 10-year yield also slipped one basis point to 4.63%.
A Bloomberg index tracking Treasuries with maturities of 20 years or more jumped 1.7% Wednesday, marking its strongest one-day performance since February 2025.
Government bonds in Japan, Australia and New Zealand also advanced, reflecting broader strength across regional fixed-income markets.
Political developments added to the positive sentiment. Trump appeared at the White House alongside executives from Coinbase, Gemini, Ripple and Chainlink Labs and called on Congress to advance the Digital Asset Market Clarity Act.
Trump urged lawmakers to agree on “a fair version” of the market structure legislation, which remains stalled in the Senate.
Ether’s ability to remain above $2,200 will be an important test for the rally. ETH has gained roughly 18% in a single day after spending weeks below that level, and moves of this magnitude driven by broader liquidity developments rather than Ethereum-specific catalysts can often give back part of their gains.