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1h ago

Ethereum Sets New Record After Powell Signals Rate Cuts

A dovish signal from Fed Chair Jerome Powell met a supply squeeze built by ETF inflows and corporate treasuries.

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Overview

  • Ether jumped roughly 15% following Powell’s Jackson Hole remarks and set a new all-time high, reaching as much as $4,885 on Coinbase and eclipsing its 2021 peak.
  • Derivatives stress intensified as more than $340 million in ETH longs and shorts were liquidated over 24 hours, contributing to over $668 million in market-wide wipeouts.
  • Spot Ethereum ETFs have drawn accelerating institutional demand, including a single day with over $1 billion of inflows last week, alongside multi‑billion‑dollar ETH treasuries at BitMine Immersion (about $7 billion) and SharpLink Gaming (about $3.5 billion).
  • Bitcoin rose about 4% to near $116,000–$117,000 with comparatively muted volatility as rotation favored ETH, pushing the ETH-BTC ratio to a yearly high and trimming Bitcoin dominance.
  • On-chain data show sustained ETH outflows from exchanges and shrinking centralized balances, while BTC reserves remain relatively flat, underscoring a tighter tradable supply for Ethereum.