Ethereum has staged its strongest 24-hour move in weeks, with $ETH jumping more than 5% to reclaim the $1,700 level for the first time since the brutal June selloff. The rally came in lockstep with $BTC, which pushed back above the psychologically important $60,000 mark, dragging the broader market higher with it.
Ethereum price in USDThe move looks macro-driven rather than Ethereum-specific. A dovish shift in Fed messaging around cooling inflation risks lit the match, and the sharpness of the bounce off multi-year lows carries the fingerprint of a short squeeze after positioning turned heavily one-sided to the downside through June. $Bitcoin holding above $60K is the cover that gives $ETH room to grind higher — lose that, and the tailwind evaporates fast.
Why did the Ethereum price jump above $1,700?
The catalyst was broad risk appetite rather than any change in Ethereum'...
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