According to U.S. negotiators and former President Donald Trump, a draft U.S.-China trade agreement was formed, boosting risk sentiment and initially lifting Ether (ETH) to around $2,780. This gain intensified after the U.S. Labor Department reported a soft 0.1% monthly CPI increase for May, below the 0.2% forecast, fueling expectations of Fed rate cuts and driving ETH to an intraday high of $2,873.46. Technical analysis confirms the breakout with spot volume surging to approximately 527,000 ETH, validating support at $2,750-$2,760 and targeting $2,900 and $3,000 for traders.

According to Augustine Fan, head of insights at SignalPlus, the cryptocurrency market experienced a sharp rally following former U.S. President Donald Trump's claim of brokering an Israel-Iran ceasefire, with Ether (ETH) rising above $2,400, Solana (SOL) surpassing $140, and Cardano (ADA) exceeding $0.50, all gaining approximately 7% in 24 hours as trading volumes rebounded from $600 million in liquidations. Fan cautioned that while the market may normalize, risks include a potential shake-out from recent long positions and negative sentiment from companies exploring Bitcoin treasuries. Kay Lu, CEO of HashKey Eco Labs, noted Bitcoin's resilience near $105,000 amid geopolitical volatility, attributing it to institutional inflows and its evolving role as a macro hedge, though traders warn of profit-taking in overheated tokens like ETH.