Why Is Ethereum Price Going Up Today?

Ethereum is trading at $2,575.39, up 5.7% over 24 hours, as stocks, Bitcoin and gold all rally on the same inflation data that simultaneously pushed Fed rate hike odds to 85%. Core CPI, which strips out food and energy, came in at 2.4%, its lowest in over five years, reflecting cooling underlying inflation in shelter, services and everyday goods. Headline CPI held at 3.4%, propped up almost entirely by oil prices spiking due to the Iran war, a supply shock rather than a sign of broader demand-driven inflation returning. Risk assets rallied on the improving yearly trend, betting the Fed has room to hold or cut rates. But rate markets disagree, reacting to a hot monthly “supercore” services reading, up 0.3% versus 0.2% expected, which excludes both energy and shelter and points to genuine demand pressure. B