ETH Breaks $2,600 Barrier After Positive CPI Report

Ethereum gained more than 6.5 percent in a single hour on Friday morning. The move pushed the price to $2,663, which marks the highest level seen since early February. This sudden jump caught many traders off guard and triggered a wave of liquidations for those holding short positions.

The rally followed the release of U.S. consumer price index data, which came in softer than analysts expected. Investors often view lower inflation numbers as a sign that the Federal Reserve may continue to ease monetary policy. When economic pressure lightens, assets like crypto frequently see renewed interest from buyers.

Now that ETH has cleared the $2,600 level, market participants are watching to see if the price can hold these gains. The ability to maintain this momentum will be key for those hoping for a stronger finish to the year. Traders should keep an eye on support levels near $2,600 to see if the recent breakout holds firm.