Ether Price Jumps Amid U.S.–China Trade Deal Hopes and Soft CPI Data

Ether (ETH) surged to an intraday high of $2,873.46 following a wave of risk-on sentiment fueled by a draft U.S.–China trade agreement and cooler-than-expected U.S. inflation data. After drifting near $2,770 for most of Tuesday, ETH began climbing late evening as reports from London confirmed a tentative trade framework between the two economic powers. The proposed deal would ease U.S. restrictions on advanced technology exports in exchange for China resuming rare-earth shipments, with tariffs remaining heavily skewed at 55% U.S. vs. 10% China.

Further momentum arrived Wednesday morning after Donald Trump posted on Truth Social confirming the deal, pending final approval from both presidents. At 8:30 a.m. ET, the U.S. Labor Department reported that both headline and core CPI rose just 0.1% month-over-month in May—below the 0.2% forecast—reinforcing hopes of potential Federal Reserve rate cuts later in 2025.

The CPI surprise triggered a broad rally across crypto and equity markets. Ether broke through $2,800 resistance, spiking on strong spot volume of around 527,000 ETH (~$1.47B). ETH futures open interest also hit a record $21.7 billion, and staked ETH climbed to an all-time high of 34.65 million tokens, highlighting strong institutional interest. BlackRock reportedly acquired $500 million in ETH over the past 10 days, further boosting bullish sentiment.

With rising momentum and hourly RSI above 60, traders are eyeing a close above $2,900 to potentially target the psychological $3,000 mark. Key support is now seen at the $2,750–$2,760 range. While near-term volatility remains possible, underlying fundamentals suggest continued upside for Ethereum.