ETH Price Momentum Builds as Whale Activity Surges

Ethereum (ETH) has seen a significant surge in price momentum following the release of the August CPI report, which showed headline inflation at 3.4% year over year and core CPI at 2.4%. This gave risk assets room to rally without a major inflation surprise.

The ETH price rose from around $2,433 to $2,667 in response to the CPI data, pushing the token toward the $2,700-$2,800 region. The breakout structure is now being tested, and traders are watching whether Ethereum can hold its gains or face profit-taking.

The surge has also been accompanied by a nearly 14% rise in transactions above $1 million, indicating heavier whale activity. This could be a sign of increased institutional interest, but it's too early to tell.