Ethereum Soars 11% on U.S. Treasury Policy Shift

Ethereum rose sharply by 11.07% to $2,321.00 on Thursday, significantly outperforming Bitcoin's +6.41% move. The surge was driven primarily by a macro liquidity spark that ignited institutional buying and a massive short squeeze.

The key driver of the momentum was a surprise U.S. Treasury policy shift, which doubled long-term bond buybacks to at least $4 billion each. This weakened the U.S. dollar and boosted risk assets like Ethereum.

According to traders, the rally was ignited by a shift in traditional finance policy, underscoring crypto's growing sensitivity to macro liquidity conditions. The Treasury's buyback program is scheduled to run until Nov. 4, 2026, and its continuation will influence the macro backdrop.