{"id":537901,"date":"2023-01-09T20:02:02","date_gmt":"2023-01-09T17:02:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/why-is-ethereum-eth-price-up-today\/"},"modified":"2023-01-09T20:02:02","modified_gmt":"2023-01-09T17:02:02","slug":"why-is-ethereum-eth-price-up-today","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/why-is-ethereum-eth-price-up-today\/","title":{"rendered":"# Why is Ethereum (ETH) price up today?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a711e4b36\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a711e4b36\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/why-is-ethereum-eth-price-up-today\/#%E2%80%9D_Why_is_Ethereum_ETH_price_up_today_%E2%80%9C\" >&#8221; Why is Ethereum (ETH) price up today? &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/why-is-ethereum-eth-price-up-today\/#ETH_price_rises_to_three-week_highs\" >ETH price rises to three-week highs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/why-is-ethereum-eth-price-up-today\/#Cooling_inflation_boosts_Ethereum_price\" >Cooling inflation boosts Ethereum price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/why-is-ethereum-eth-price-up-today\/#Ethereum_options_traders_bet_on_160_ETH_rally\" >Ethereum options traders bet on 160% ETH rally<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Why_is_Ethereum_ETH_price_up_today_%E2%80%9C\"><\/span>&#8221; Why is Ethereum (ETH) price up today? &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ed77c39>Ethereum&#8217;s native token, Ether (ETH), rose to three-week highs, rallying in lockstep with the broader\u00a0 cryptocurrency market, as well as\u00a0stocks.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETH_price_rises_to_three-week_highs\"><\/span>ETH price rises to three-week highs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Jan. 9, ETH&#8217;s price rose 2.85% to cross above $1,325 for the first time in three weeks, a key level that could pave the token&#8217;s path toward $1,350 next if its previous price performance is any indication. <\/p>\n<p>The crypto market&#8217;s capitalization gained 2.66%, or $21.18 billion, in the same period.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/382a3d7b-a0a7-4ba6-a630-a70c134fcde7.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Cooling_inflation_boosts_Ethereum_price\"><\/span>Cooling inflation boosts Ethereum price<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are rushing into riskier markets on signs of cooling inflation.<\/p>\n<p>Notably, on Jan. 6, the U.S. Labor Department&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\">nonfarm payrolls report<\/a> showed a slowdown in wage increases, which market watchers interpreted as a sign that the Federal Reserve&#8217;s hawkish policy has brought down inflation successfully.<\/p>\n<p><strong><em>What&#8217;s the price in your national currency? Check out our new cryptocurrency calculator<\/em><\/strong><\/p>\n<p>Such a scenario could prompt the Fed to slow the pace of its rate hikes, which, in turn, could prove bullish for crypto assets like Ether.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Inflation will continue to decline in the next few months &#8211; this will cause the fed to pause and eventually ease and the markets to roar upwards. Once the fed begins easing we will enter phase 2 of the inflation saga. People really don\u2019t seem to understand how sticky inflation is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/iFKbUWg9QA\">pic.twitter.com\/iFKbUWg9QA<\/a><\/p>\n<p>\u2014 Nate O&#8217;Brien (@nateobrienn) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nateobrienn\/status\/1612276033985875968?ref_src=twsrc%5Etfw\">January 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The market now awaits fresh data on consumer prices in the U.S. due on Jan. 12. The figures will set the tone for the Federal Open Market Committee&#8217;s two-day meeting starting Jan. 31. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html?redirect=\/trading\/interest-rates\/countdown-to-fomc.html\">CME data<\/a> shows a market consensus for a 50-75 basis point rate hike entering February.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_options_traders_bet_on_160_ETH_rally\"><\/span>Ethereum options traders bet on 160% ETH rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As macro indicators turn short-term bullish for risk markets, Ethereum options traders have grown confident about a possible price rally in the first quarter of 2023.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/532367b6-1d37-40e6-a74e-8a5ec5925762.png\"><figcaption style=\"text-align: center;\"><em>Cast your vote now!<\/em><\/figcaption><\/figure>\n<p>Notably, the Ethereum open interest for contracts expiring on Mar. 31 is majority bullish, with most strike targets falling inside the $3,500-$4,000 range, according to data tracked by Glassnode.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/6d7960d6-065c-4e92-90ca-5bfdd1640232.png\"><figcaption style=\"text-align: center;\"><em>Ethereum options open interest by strike price. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>The upside outlook receives a further boost from Jiang Zhuoer, the CEO\/co-founder of Bitcoin (BTC) mining service B.TOP, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JiangZhuoer\/status\/1612354771809374215\">believes<\/a> Ether would permanently break out from its current bottom range anywhere between March and May 2023, citing its deflationary supply in recent months.<\/p>\n<p><strong><em>Related:\u00a0Ethereum\u2019s Shanghai upgrade could supercharge liquid staking derivatives \u2014 Here\u2019s how<\/em><\/strong><\/p>\n<p>&#8220;Looking at the data of Ethereum,\u00a0the inflation rate was 3.59% when ETH was in Proof-of-Work (POW). Bitcoin&#8217;s inflation rate is 1.72%,&#8221; he wrote, adding: <\/p>\n<blockquote><p>&#8220;Even after the bear market, with the inactive coin burning, the ETH inflation rate is as low as 0.01% [&#8230;] From this data, it can be concluded that the ETH bull market will start in a spiral deflationary mode.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/bb0153aa-0f77-4b56-a794-fdc200054858.png\"><figcaption style=\"text-align: center;\"><em>Ethereum supply rate after its network upgrade to proof-of-stake (PoS). Source: Ultrasound.Money<\/em><\/figcaption><\/figure>\n<p>However, the Fed would need to see a sustained decline in inflation before it puts a brake on its rate-hiking-spree, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/global-stocks-markets-dow-update-01-09-2023-11673266549\">cautions<\/a>\u00a0Edward Park, chief investment officer at London-based Brooks Macdonald.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>. Bear Market Analysis. Since the high was made in December 2021, price has been moving in a descending channel till date. <\/p>\n<p>Price is expected to to continue going up from here OR form a double bottom before the next impulse move. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DYOR?src=hash&amp;ref_src=twsrc%5Etfw\">#DYOR<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/NFA?src=hash&amp;ref_src=twsrc%5Etfw\">#NFA<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/roAgsyZXPf\">pic.twitter.com\/roAgsyZXPf<\/a><\/p>\n<p>\u2014 The London Crypto \uea00 (@SerLondonCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SerLondonCrypto\/status\/1612388589605908480?ref_src=twsrc%5Etfw\">January 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>If that does not h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en, investors&#8217; risk-on sentiment could dampen again, which could see\u00a0Ether returning below $1,000 in such a scenario, potentially forming a double bottom.\u00a0<\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/why-is-ethereum-eth-price-up-today\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Why is Ethereum (ETH) price up today? &#8220; Ethereum&#8217;s native token, Ether (ETH), rose to three-week highs, rallying in lockstep with the broader\u00a0 cryptocurrency market, as well as\u00a0stocks.\u00a0 ETH price rises to three-week highs On Jan. 9, ETH&#8217;s price rose 2.85% to cross above $1,325 for the first time in three weeks, a key&#8230;<\/p>\n","protected":false},"author":1,"featured_media":537902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/62a9e911-43a2-4cc4-92a1-f4819d8f0db5.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,81210,74938,79109,74939,78261,70550,70551,73785],"class_list":["post-537901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-ethereum-options","tag-ethereum-price","tag-interest-rate","tag-market-analysis","tag-tech-analysis","tag-federal-reserve","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/537901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=537901"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/537901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/537902"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=537901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=537901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=537901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}