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Ethereum Price Soars 7.46% as US Inflation Meets Expectations

Guavy AI Editorial Team
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The price of Ethereum rose 7.46% to $2619 after the release of US inflation data, which met expectations at 3.4% year-over-year in August.

Tom Lee, co-founder of Fundstrat and chairman of BitMine, believes that the market's excessive caution creates conditions for a rebound, but his analysis is not specific to Ethereum.

Fundstrat wrote that a less bad outcome can trigger a significant rise, which includes stocks and cryptos. Tom Lee did not release any price target for ETH nor confirm any technical level for a sustained recovery.

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