- Ethereum jumps nearly 10% to $1,615, rebounding sharply from its recent low of $1,386.
- Trump’s 90-day tariff pause and $3.5 trillion boost in U.S. equities spark renewed crypto optimism.
- Paul Atkins confirmed as new SEC Chair, signaling a potentially favorable regulatory shift.
- Ethereum fills all downside CME gaps, with bullish targets now pointing toward $3,200.
Ethereum (ETH) has entered a bullish trajectory, soaring nearly 10% in the past 24 hours to trade at $1,615, signaling a sharp reversal from its recent low of $1,386. The turnaround was triggered by a powerful combination of macroeconomic catalysts and renewed optimism in the broader crypto market.
New SEC Chair, Tariff Relief Fuel ETH Momentum
Just days ago, ETH plummeted to its local bottom as Bitcoin’s sharp decline sparked a widespread sell-off across the digital asset space. However, sentiment quickly shifted after President Donald Trump announced a 90-day pause on tariffs for most countries, excluding China. This geopolitical decision sent shockwaves through global financial markets, fueling a rapid surge in both equities and cryptocurrencies.
According to market sentiment data, investors rushed into risk-on assets driven by FOMO (Fear of Missing Out). In just a short span, the U.S. stock market saw an eye-watering $3.5 trillion added to its capitalization, highlighting the scale of the bullish momentum. The crypto market quickly followed suit, with Ethereum leading the charge.
Adding more fuel to the rally, the U.S. Senate confirmed Paul Atkins as the new Chair of the Securities and Exchange Commission (SEC). Known for his deregulatory stance and openness to innovation, Atkins’ appointment marks a potential turning point in regulatory policy, one that could greatly benefit the digital asset industry.
https://x.com/SenateCloakroom/status/1910116258906845544?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1910116258906845544%7Ctwgr%5E35f6190a4638e3dcf28a7c2d3367a3c21688e984%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.tronweekly.com%2Fsec-appoints-paul-atkins-as-chair-signaling%2F
Meanwhile, Ethereum’s on-chain data and technical indicators align with this bullish momentum. Trading volume for ETH surged by 23%, reinforcing the strength behind the move. Moreover, a significant milestone was just reached on the derivatives front.
Ethereum Clears CME Gaps, Eyes $3,200
According to analysis shared by crypto analyst JACKIS, Ethereum has now filled all of its CME gaps to the downside, removing a key area of bearish concern. “The only gaps left are above us, stretching all the way to $3,200,” he noted.
If Ethereum can reclaim the $1,800 level and close with a strong weekly candle, it could kick off a powerful upward move, possibly leading to those higher targets.
With macroeconomic relief, political support, and a technical landscape now clear of downside inefficiencies, Ethereum’s rally may just be getting started.
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