Crypto Rally Accelerates as Ether Gains 18% and Bitcoin Tops $69K

Most major cryptocurrencies posted double-digit gains over the past week, with Tron standing out as the only exception. Roughly $1.4 billion in short positions were liquidated after the US Treasury increased its bond-buyback activity.
Ether was the standout among large-cap tokens, climbing 18% in 24 hours to trade above $2,250 during Thursday’s Asian session. The move pushed ETH’s weekly gain to about 20%, the strongest among the major cryptocurrencies.
Bitcoin rose to around $69,100, gaining nearly 8% over 24 hours and about 9% over the week. BTC briefly reached close to $69,900 overnight, marking a recovery of more than $5,700 from Wednesday’s low near $64,100.
Hyperliquid’s HYPE token recorded the largest gain, rising more than 19% to just under $70 and bringing its weekly advance to roughly 24%.
Solana jumped more than 10% to approximately $84.50, while its seven-day gain reached around 12%.
XRP climbed 10% to $1.09, reclaiming the $1 mark after falling below it Tuesday. The token was up nearly 10% over the week.
Dogecoin gained almost 8% to trade slightly below $0.075.
BNB rose 3.5% to $626 but remained a weaker performer, with a weekly gain of just over 2%.
Tron hovered around $0.33 with little movement and remained the only major cryptocurrency in negative territory for the week.

The rally gained momentum Wednesday after Treasury Secretary Scott Bessent announced plans to at least double the Treasury Department’s bond-buyback operations.
Traders viewed the move as a possible source of additional liquidity for the more than $30 trillion US Treasury market, helping lift demand for risk assets.
Bitcoin gained roughly 6% during the US session, while around $1.4 billion in short positions were liquidated within four hours as bearish traders were forced to cover.
The bond rally continued into Asian trading. The 30-year US Treasury yield declined one basis point to 5.18% after dropping nine basis points Wednesday, while the 10-year yield eased to 4.63%.
A Bloomberg index tracking Treasury securities with maturities of 20 years or more surged 1.7% Wednesday, its biggest single-day advance since February 2025.
Government bonds in Japan, Australia and New Zealand also strengthened, extending the rally across regional fixed-income markets.

The positive mood was further supported by President Donald Trump’s White House meeting with executives from Coinbase, Gemini, Ripple and Chainlink Labs.
Trump called on Congress to advance the Digital Asset Market Clarity Act, urging lawmakers to agree on “a fair version” of the market structure bill, which remains stalled in the Senate.

Holding above $2,200 could become an important test for Ether after its sharp rally.
ETH has gained about 18% in just 24 hours after struggling to clear the level for several weeks.
The move has largely followed broader liquidity and risk-asset trends rather than an Ethereum-specific catalyst, meaning part of the rally could unwind if the wider market momentum weakens.