Ethereum has just delivered its strongest daily gain of the summer, jumping 9.51% to $2,098.70 after opening at $1,916.50 and running as high as $2,112. It outperformed Bitcoin by a wide margin, and it is now sitting 1.13% below the single most important level on its chart.
Ethereum price today in USDWhy Ethereum Price is up today
Same trigger as the rest of the market: the US Treasury announced it will at least double its long-dated bond buybacks, pushing yields down and the dollar lower in a move analysts labelled "QE Lite." Easier financial conditions send capital back toward risk.
But $Ethereum did not just participate, it led. ETH gained 9.51% while Bitcoin gained 6.20%. That is the point of this article, because in crypto, who leads tells you what kind of move this is.
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