Ethereum price steadies near $1,887 ahead of Wednesday CPI data

Ethereum opened Wednesday’s session at $1,887, holding within the $1,850‑$1,880 range after the post‑NFP rally faded and ahead of the U.S. CPI report that could reshape Fed rate expectations [1].

Recent price action and market context

Ethereum surged to $1,942 on Aug. 7 following a softer‑than‑expected Nonfarm Payrolls report, but the gain eroded as the token settled between $1,850 and $1,880 by the start of Wednesday’s trade [1]. The price now hovers just below the 20‑day moving average of $1,890, which has risen from $1,660 on July 1, indicating sustained buying momentum over the past 50 days [1].

Drivers behind the current stance

The immediate catalyst is the CPI release scheduled for 8:30 a.m. ET, with Reuters polling economists to a headline inflation forecast of 3.4% YoY, down from 3.5% in June, and core CPI expected at 2.5%—the lowest annual reading since March 2021 [1]. A CPI that meets or falls below these expectations could lift the probability of a September Fed rate cut, historically bullish for crypto assets.

Meanwhile, corporate treasury demand continues to buttress ETH’s price floor. The Block reports cumulative Ethereum treasury holdings rose to 7.58 million ETH on Aug 11, up 1.1 million from early July, driven by purchases from BitMine (7,391 ETH) and Sharplink Gaming (2,057 ETH) [1]. Despite a $14.6 million net outflow from spot ETH ETFs on Tuesday, these corporate inflows offset the short‑term pressure from the ETF outflow streak.

On‑chain activity supporting the outlook

Santiment flagged daily active addresses at 989,500 on Aug 10, the highest since March, reflecting steady network usage despite flat prices [1]. The growth is attributed to expanding settlement activity via Robinhood Chain and broader adoption of stablecoins and tokenized assets, suggesting underlying demand for ETH beyond price speculation.

What to watch

• CPI outcome: A print at or below the 3.4% headline forecast could push ETH toward the psychological $2,000 level; a higher-than‑expected figure may reinforce support around $1,850.
• Fed rate expectations: Any shift in the CME FedWatch Tool probability for a September rate cut will likely influence risk‑on sentiment and ETH price direction.
• Corporate treasury activity: Continued net purchases by BitMine, Sharplink, or other firms could sustain the $1,850‑$1,880 floor, while a reversal in treasury accumulation may add downside pressure.

Ethereum’s price stability ahead of the CPI release underscores the market’s split between macro‑driven risk sentiment and solid corporate balance‑sheet demand. The next data point—whether inflation eases as forecast—will determine if ETH can break the $2,000 barrier or retreat toward its recent support zone.