ETH short-term increase of 1.52%: USDC large-scale burning and macro hedging sentiment resonate to boost buying interest

On March 2, 2026, from 15:30 to 15:45 (UTC), ETH price surged rapidly, with short-term returns reaching +1.52%. The fluctuation range was between 2021.82 and 2062.76 USDT, with an amplitude of 2.02%. This movement attracted widespread market attention and significantly increased volatility.

The main driver of this movement was the recent large-scale USDC Treasury burn event on the Ethereum mainnet. On January 29, 2026, 50 million USDC were burned, reducing the circulating supply of stablecoins and accelerating the adjustment of capital structure within the ecosystem. Some on-chain liquidity shifted toward mainstream assets like ETH, boosting short-term demand. Meanwhile, macro factors such as a strengthening US dollar index, a falling euro, and geopolitical tensions in the Middle East further stimulated safe-haven demand for cryptocurrencies, driving ETH capital inflows.

Additionally, market sentiment and predictions amplified the short-term volatility. Polymarket’s trading volume reached $528,400, indicating increased investor sensitivity to ETH price ranges and intensified institutional and large-holder capital battles. Prominent opinion leader Arthur Hayes publicly expressed bullish views, boosting overall optimism in the crypto market and supporting price increases. The combination of on-chain fund flows, social sentiment, and macro fluctuations created a resonance effect, causing ETH’s short-term gains to exceed typical levels. Technical breakthroughs of key resistance levels and the activation of quantitative strategies also contributed to the surge in buying pressure.

Caution is advised regarding current volatility, as short-term movements are often accompanied by pullback risks. Future focus should be on key support and resistance levels for ETH, on-chain fund flows, and macro news developments. Market sentiment and derivatives structures will also influence subsequent trends, so users are recommended to closely monitor real-time news to prevent sharp short-term fluctuations.