Hyperliquid HYPE jumps 20% after Trump urges Congress crypto bill and hints at regulating the perpetual futures DEX, with Bitcoin and ether also surging.

According to market reports, Ether (ETH) surged to an intraday high of $2,873.46 following a tentative U.S.-China trade agreement and a softer-than-expected U.S. CPI report. Officials announced a draft trade framework that would ease restrictions, as confirmed by former U.S. president Donald Trump on Truth Social. The U.S. Labor Department reported May CPI rose only 0.1% month-on-month, below forecasts, boosting expectations for Fed rate cuts and driving risk assets higher with ETH volume spiking to approximately 527,000 coins. Structural supports include record staked ETH at 34.65 million tokens and strong ETF inflows, with technical analysis indicating potential for a run towards $3,000 if ETH closes above $2,900.