Ether Surges Past $2,800 Following Trump’s China Trade Deal Announcement

Ether’s price surged past $2,800 to $2,873.46, driven by a combination of soft May CPI data and suggestions of a U.S.–China trade deal from Donald Trump. The rise reflects strong institutional interest, with ETH staking reaching record levels. Analysts indicate potential further gains as market sentiment remains positive, while support levels are established around $2,750–$2,760.

Ether (ETH) has surged past the $2,800 mark, reaching a price of $2,873.46 following recent comments from former U.S. President Donald Trump about trade negotiations with China. This 5.56% increase comes on the heels of soft Consumer Price Index (CPI) data from May, and anticipation surrounding a potential U.S.–China trade truce has noticeably intensified institutional demand for the cryptocurrency.

The rise in Ether’s value marks a continuation of its upward momentum this week, with the digital asset now showing nearly 12% gains since it broke through the $2,800 barrier on Tuesday. With a significant uptick in trading volume, the market sentiment appears increasingly positive. Both Bitcoin and other altcoins also reacted to the news, reflecting a broader risk-on appetite across various asset classes.

Trump’s post on Truth Social declared that “OUR DEAL WITH CHINA IS DONE,” pending formal approval from both him and President Xi. Part of the new terms appears to maintain high U.S. tariffs on Chinese imports while potentially facilitating access for Chinese students to U.S. universities. This speculative thaw in trade tensions sparked initial interest in the markets, with global equities and crypto both showing signs of life.

The situation grew more optimistic following a report from the U.S. Labor Department indicating that the month-on-month change in both headline and core CPI just edged up by 0.1%. This was actually lower than economists’ projections, which had estimated a 0.2% rise. The cooler inflation data implications point toward possible interest rate cuts by the Federal Reserve later this year, driving down Treasury yields and the dollar, while buoying the markets, including equities and cryptocurrencies.

Following this, Ether jumped to an intraday high of $2,873.46, aided by a substantial volume increase—around 527,000 coins traded, amounting to about $1.47 billion. Meanwhile, the supply of staked ETH rose to a record of 34.65 million tokens, representing approximately 28.7% of the overall supply. This trend of accumulation has been supported by substantial inflows into exchange-traded funds, nearing $900 million over the past 16 days, and the futures open interest has also climbed to over $21.7 billion.

Market analysts are now watching closely for Ether to maintain its newfound strength and potentially breach the $2,900 threshold, as traders eye the psychological milestone of $3,000. They are also mindful of the newly established support levels around $2,750 to $2,760, which could act as a protective buffer against any downward movement.

When it comes to technical analysis, recent trends show a series of higher lows since June 9, culminating in a fresh high. Volume confirmations from the CPI report have solidified the market’s bullish outlook, with immediate support likely holding strong at $2,750–$2,760 and resistance levels set toward $2,900 and $3,120. Currently, the hourly Relative Strength Index (RSI) remains above 60, suggesting that there’s room for further gains before the market enters overbought territory.