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Ethereum Price Forecast: ETH climbs 7% amid declining inflation, weak retail and whale participation
Ethereum (ETH) jumped more than 7% above $1,850 on Tuesday following a weaker-than-expected US Consumer Price Index (CPI) report for June. The inflation data fell to 3.5% below expectations of 3.8%, marking a month-on-month decline of 0.4%, its largest monthly drop since May 2020. Core CPI also fell to 2.6% below forecasts of 2.8%. Following the decline, odds of the Federal Reserve (Fed) hiking rates at its next meeting on July 29 dropped to 8%. The move prompted a quick rally across risk assets, with the wider crypto market seeing a 2.4% gain alongside a broader stock market rally. Notably, the price jump ... (full story)
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