Ether Climbs 5.6% to 10-Day High on Soothing U.S. Inflation Data and Draft U.S.–China Trade Deal

Ether (ETH) surged 5.6% to reach its highest level in 10 days, propelled by softer-than-expected U.S. inflation figures and news of a tentative U.S.–China trade agreement, fueling strong institutional interest.

ETH traded steadily near $2,770 through much of Tuesday before a late-evening announcement in London revealed that negotiators had drafted a preliminary U.S.–China trade framework. Awaiting approval by both presidents, the deal would see China resume rare-earth exports while the U.S. relaxes some restrictions on advanced technology sales.

Early Wednesday, former President Donald Trump declared on Truth Social that “OUR DEAL WITH CHINA IS DONE,” pending formal sign-offs from him and President Xi. Trump said the agreement would keep U.S. tariffs on Chinese imports effectively at 55% (versus China’s 10%), include upfront shipments of magnets and rare-earth materials from Beijing, and maintain concessions such as ongoing access for Chinese students to American universities — describing the bilateral ties as “excellent.”

The prospect of easing the long-standing tariff conflict triggered a surge in risk appetite: global equity futures firmed, bitcoin edged higher, and ether climbed to about $2,780 amid rising spot trading volumes.

Eleven hours later, at 8:30 a.m. ET, the U.S. Labor Department’s May Consumer Price Index report showed both headline and core inflation increasing just 0.1% month-over-month, below economists’ 0.2% expectations. The softer data bolstered hopes that the Federal Reserve might cut rates later this year, pressuring Treasury yields and the dollar lower while boosting equities.

Within this environment, ether vaulted from the high $2,780s to an intraday peak of $2,873.46, with spot volume swelling to approximately 527,000 ETH (~$1.47 billion), according to CoinDesk Research’s technical analysis.

Strong structural tailwinds remain in place: staked ETH hit a record 34.65 million tokens (about 28.7% of total supply), ETF inflows extended to a 16-day streak nearing $900 million, and futures open interest reached a new all-time high above $21.7 billion — signaling robust institutional participation. BlackRock’s recent $500 million accumulation over the past 10 days highlights this trend.

Traders now watch for a decisive close above $2,900 to potentially trigger a run toward the key psychological $3,000 level, while monitoring support near the freshly established $2,750–$2,760 range.

Technical Analysis Summary

• Trend: A series of higher lows since June 9 and a fresh high at $2,873 reinforce an accelerating upward channel.
• Volume: The CPI-driven price surge generated the day’s largest trading volume bar (~527K ETH), confirming Tuesday’s breakout over $2,800.
• Support & Resistance: Immediate support lies between $2,750 and $2,760; targets ahead include $2,900 and the psychological $3,000 mark, with further resistance near $3,120.
• Momentum: Hourly RSI remains above 60, indicating room for further gains before hitting overbought levels.