Ethereum Price Surges 11% as US Treasury Yields Tumble

The price of Ethereum (ETH) surged by approximately 11% to reach $2,114.01, outpacing the broader market during a notable rally.

This surge was largely attributed to a macro-induced short squeeze, which emerged as falling U.S. Treasury yields improved overall risk sentiment.

The decline in Treasury yields prompted leveraged traders to unwind more than $1.23 billion in crypto short positions, leading to a cascade of liquidations that amplified ETH’s price movement.

Institutional demand has played a critical role in supporting Ethereum's price foundation, with significant inflows into BlackRock's Ethereum ETF amounting to $64.68 million on August 19 reflecting growing institutional interest.