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Ethereum price breaks out as 'bad news is good news' for stocks

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cointelegraph.com

Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears.ETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021.

Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a "clean fakeout."For instance, independent market analyst "PostyXBT" projected ETH's price to close above $1,300 by the end of June.

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