Ether Soars 7.46% as US Inflation Meets Expectations
The price of Ether surged by 7.46% to $2,619 following the release of US inflation data on September 11.
This rebound came after several sessions marked by investor caution, with many adopting a defensive posture before the announcement.
According to Tom Lee, co-founder of Fundstrat and chairman of BitMine, the market's excessive caution created conditions for a significant rise. He noted that 'a less bad outcome can trigger a significant rise', but this statement was not solely dedicated to Ethereum.
Lee's projection broadly concerns risky assets, without setting any specific target for Ether. The persistence of inflation remains a risk, as higher prices would encourage the Federal Reserve to maintain a restrictive monetary policy or raise its rates, weighing on non-fixed income assets, including cryptos.