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Ethereum Jumps Above $2,600 as CPI Triggers Massive Short Squeeze

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The Story

News Summary

  • Ethereum surged over 7% to $2,619 following August CPI data, sparking a severe short squeeze.
  • Fundstrat's Tom Lee highlighted strong upside momentum, supported by massive corporate accumulation from Bitmine Immersion Technologies, which now controls nearly 4.9% of the circulating supply in corporate reserves and staking.
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ETHUSD price history

2522.66 +24.47% over the displayed period

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