Ethereum Soars Past Bitcoin With 25% Weekly Gain Before CPI Release

Cryptocurrency markets saw significant volatility last week as concerns about US stagflation intensified. Ethereum rebounded strongly from recent ETF outflows, surging 25.01%, while investors await the July CPI release that could influence Fed interest rate policy. This surge comes on the heels of unexpected comments by Fed Vice Chair Michelle Bowman advocating for three rate cuts. Ethereum briefly surpassed $4,300 following her statements and then recovered its gains against a backdrop of ongoing market uncertainty.