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Ether surged nearly 15% in 24 hours on August 22, punching through its former peak to set a new all-time high around $4,870–$4,885 on major U.S. exchanges. The breakout followed Fed Chair Jerome Powell’s Jackson Hole remarks, which opened the door to an interest-rate cut at the next policy meeting, and ignited broad risk-on flows across crypto.
Rate-cut expectations jumped in the aftermath: futures markets quickly priced an ~85%–90% chance of easing in September, and U.S. equities rallied alongside crypto as traders leaned into the dovish shift. The macro tailwind added fuel to ether’s move after it had already reclaimed the $4,000 handle earlier in the week.
Beyond macro catalysts, crypto-native flows helped. Commentators pointed to renewed inflows into spot ether ETFs and rotation into the Ethereum ecosystem as price momentum accelerated, with several ETH-linked tokens catching a bid during the run-up. The fresh record also comes after months of steadily improving sentiment toward on-chain activity and tokenization themes.
With the prior 2021 high now cleared, technicians are watching whether ether can hold above breakout levels and extend toward round-number targets. Near-term direction may hinge on upcoming U.S. data that the Fed flagged as pivotal—specifically the September 5 jobs report and the following week’s inflation readings—which could validate or temper the case for a September cut.
If the Fed follows through, advocates say easier financial conditions could keep the bid under risk assets into the fall. If data surprises the other way, a quick reset is possible after such a sharp move. For now, the new all-time high cements ether’s return to leadership across digital assets.
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