Ethereum Taps $2,600 For First Time In 7 Months: What Is Happening?

Ethereum (CRYPTO: ETH) on Friday tapped $2,600 for the first time in seven months after core CPI hit its lowest level in over five years.

What Drove the Move

Widely-followed market commentator Bull Theory posted on X that $127 billion flooded back into the total crypto market cap in just 90 minutes after the CPI release, with Bitcoin surging above $79,000 alongside Ethereum’s breakout.

As Benzinga reported Friday, core CPI came in at its lowest level in over five years, triggering a sharp risk-on move as investors treated the rate hike as a priced-in event rather than a new shock.

What the ETF Data Could Show