Crypto
Ethereum Price Breaks Out Amid Increased Rate Hike Odds
The Ethereum price has broken out, pushing $3K into focus according to some analysts. The breakout comes as inflation data in the United States came in line with forecasts for August, with prices advancing by 3.4% in the past 12 months.
Traders seem to be ignoring rate hike odds, which increased from 68% to 86%, possibly because they had already priced this scenario in.
Other factors may now take center stage, such as the approval of the Clarity Act and other sector-specific tailwinds that could drive Ethereum's next leg up.