Ether Surges to New Heights Amid Crypto Market Rally

Ether has surged by nearly 18% in 24 hours to above $2,250 during Asian trading, pushing its weekly gain to roughly 20%. This makes it the strongest performer among major cryptocurrencies. The sharp price increase comes as part of a broad cryptocurrency market rally.

BTC also climbed significantly, trading above $69,100 after gaining nearly 8% in 24 hours and 9% over the past week. Bitcoin briefly approached $69,900 overnight, marking a rebound of more than $5,700 from Wednesday's low near $64,100.

The rally began after U.S. Treasury Secretary Scott Bessent expanded the Treasury Department's bond buyback operations, which was seen as supportive of liquidity in the massive U.S. Treasury market and boosted demand for risk assets.