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The Ethereum price jumped 2% in the past 24 hours to trade at $2,496 as of 1:34 a.m. EST, with trading volume surging 11% to $18.5 billion.
This uptick in the ETH price comes as US President Donald Trump considers appointing and announcing a new Federal Reserve (Fed) Chair, replacing Jerome Powell, by September or October.
Trump is set to consider former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett.
“I know within three or four people who I’m going to pick,” Trump told reporters when asked if he is interviewing candidates to replace Powell.
Trump has repeatedly criticized Powell for not cutting interest rates and has floated the idea of firing him or naming a successor soon, though he nearly as often has walked back on those threats.
Powell told Congress this week that higher tariffs could push up inflation this summer, just as the Fed weighs potential rate cuts.
He said he and many at the Fed expect inflation to rise soon and that the central bank isn’t rushing to lower borrowing costs.
If the incoming Chair cuts interest rates, inflation may drop, which can lead to more investment in crypto.
Ethereum Price Pauses At A Crossroads: Breakout Or Breakdown Ahead?
After completing a rounded bottom pattern from the March–May period, the ETH price surged past the neckline resistance near $2,500.
However, instead of following through with a strong uptrend, the Ethereum price action has stalled and formed a sideways consolidation zone between approximately $2,438 and $2,686, as GeckoTerminal data shows.
This range-bound behavior shows indecision in the market as bulls and bears battle for control, often preceding a breakout move in either direction.
The 50-day Simple Moving Average (SMA) ($2,531.77) and the 200-day SMA ($2,563.69) are converging, hinting at a potential golden cross if the shorter-term SMA crosses above the longer-term one.
Meanwhile, the Relative Strength Index (RSI) at 50.97 is perfectly neutral, reinforcing the idea of sideways momentum with no clear directional bias.
ETH Hints At A 40% Surge
As long as ETH continues to trade within the $2,438–$2,686 range, the sideways movement might persist. However, a break and close above $2,700 would likely trigger a move toward $3,520, a 40% surge from the current level.
Conversely, a breakdown below $2,400 could invalidate the bullish setup and push the price toward $2,100–$2,200 support.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 10X after launch.
Bitcoin Hyper Presale Closes On The $2 Million Mark – Next 100X Crypto?
The Bitcoin Hyper presale continues to gain traction in the crypto space, with investors rapidly accumulating the HYPER token. Over $1.63 million has been raised since the presale started, reflecting strong demand.
The Bitcoin Hyper project aims to address scalability challenges in Bitcoin, enhancing its usability.
By leveraging the high-speed infrastructure of Solana, it transforms BTC into a fee-efficient, practical payment method for daily use and global commerce.
The magic happens through the Solana Virtual Machine (SVM). This is the same engine that powers Solana’s lightning-fast transactions and low fees.
Meanwhile, BTC payments on the Bitcoin Hyper platform settle instantly with low fees, making them ideal for micropayments and global transactions.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
For investors seeking a secure platform, this may be the perfect project, as it utilizes a Canonical Bridge that supports layer-2 speed and cost efficiency.
The project is also offering investors an impressive 475% annual percentage yield (APY) for purchasing and staking HYPER tokens.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.012025 each using crypto or a bank card.
Buy before the next presale price increase in about 9 hours.
Visit the Bitcoin Hyper website.
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