Ethereum price soars 5.6% after better-than-expected CPI data

The Ethereum price surges after better-than-expected US inflation data. The CPI for the past month came in much lower than expected, driving buyers en masse towards ETH futures. At the time of writing, Ethereum is at $1.900, an increase of 5.6% in the past 24 hours.

Ethereum is available at OKX and Bybit.

Inflation figures take rate hike off the table

The US CPI came in at -0.4% month on month, while core inflation remained completely flat at 0%. That is significantly lower than the previous reading and causes an immediate shock in the markets. Before the announcement, traders were still factoring in a chance of around 46.5% of a rate hike at the FOMC meeting on 29 July. That chance now virtually evaporates.

That news lands well with crypto traders, who waste no time. The reasoning is simple: lower inflation means less pressure on the Federal Reserve to raise rates, which is positive for risk-on assets such as crypto. As soon as the figures are released, buy orders flood the market en masse.

More than $1.2 billion in buy volume on Binance in one hour

Within the first hour after the publication of the CPI data, no less than $1.2 billion in taker buy volume flows to Binance, sharply pushing up the price of Ethereum. That Binance attracts the lion’s share of derivatives trading is nothing new. Earlier, the futures volume on Binance already peaked at $16 trillion in 2026. Now too, the platform confirms its dominant position in the market.

Other exchanges also join the buying spree. Deribit registers $15 million in buy volume and OKX came in at $23.6 million. Those figures pale in comparison to Binance, but they do show that the interest is broadly supported across multiple platforms.

Analyst Darkfost does warn that the move is still purely speculative in nature. Traders react quickly to news and actively seek volatility to profit from, but that does not provide a solid basis for a sustained upward trend. Whether the increase can hold depends heavily on what macro news emerges in the coming weeks.