Ether Surges Toward $3K on Tentative U.S.–China Trade Pact and Soft U.S. CPI Report
Ether’s price rallied, reaching an intraday high of $2,873.46, driven by positive macroeconomic news and sustained institutional interest. The initial catalyst was a reported draft U.S.-China trade framework, suggesting a potential thaw in the tariff dispute. Former President Trump’s announcement on Truth Social further fueled optimism, claiming a deal had been reached that would benefit both nations. This “risk-on” sentiment boosted global equity futures and cryptocurrency markets, with Ether initially pushing above $2,780.
The rally intensified following the release of unexpectedly low U.S. May CPI figures. The lower-than-expected inflation data strengthened expectations of potential Federal Reserve rate cuts later this year, leading to a decline in Treasury yields and the dollar, further boosting risk appetite. This confluence of positive news resulted in a significant surge in Ether’s price and trading volume, reaching approximately 527,000 coins (~$1.47 billion) according to CoinDesk Research.
Underlying structural factors also contributed to Ether’s strength. Staked ETH hit a record high of 34.65 million tokens (≈28.7% of supply), showcasing continued institutional engagement. Exchange-traded funds (ETFs) exhibited a 16-day inflow streak, nearing $900 million, and futures open interest reached a new high above $21.7 billion. BlackRock’s reported $500 million accumulation over the past ten days exemplifies this robust institutional investment.
Technically, Ether’s price action confirms an accelerating up-channel, with a series of higher lows since June 9 and a new higher high at $2,873. The CPI-triggered candle marked the day’s largest volume bar, validating the breakout above $2,800. Immediate support sits at $2,750–$2,760, while resistance levels are at $2,900, the psychological $3,000 mark, and a secondary hurdle near $3,120. The hourly RSI remains above 60, suggesting further upside potential before overbought conditions emerge. A decisive close above $2,900 is crucial for a potential move toward $3,000.
