The price of Ether jumped 7.46% to $2,619 following the release of US inflation data. Tom Lee discusses the probable start of a “brutal rally”however its projection concerns risky assets more generally and does not set any precise objective for ETH.
In brief
- Ether jumped 7.46% and reached $2,619 after US inflation figures.
- Tom Lee discusses the possibility of a sharp rally in risky assets, without setting a target for ETH.
- BitMine holds 5.93 million ETH, or 4.9% of the supply taken as a reference by the company.
- The company has staked 5.07 million ETH and continues its weekly purchases.
- Inflation and the Fed’s monetary policy remain determining factors for the continuation of the movement.
Ether price rises after US inflation
During the September 11 session, Ether ended the day with an increase of 7.46%. In fact, its price was around 2,619 dollars, bringing its weekly increase to 6.62%. Such a rebound came after numerous sessions marked by investor caution.
The market therefore reacted to the publication of data on the American consumer price index. Thus, inflation reached 3.4% year-on-year in August, in line with expectations. However, prices rose by 0.4% over one month, while underlying inflation increased by 0.3%.
The main statistics allow us to put the Ether rebound in context:
- ETH reached $2,619 after a daily rise of 7.46%;
- Its seven-day gain stood at 6.62%;
- US inflation reached 3.4% year-on-year in August;
- The underlying index rose 0.3% month-on-month.
Investors had adopted a defensive positioning before this publication. Indeed, the absence of a bad surprise then favored a return to cryptos. Short sellers were also able to buy back their positions to limit their losses, which accelerated the rise.
Such a mechanism is equivalent to what traders call a “face-ripper rally”. It constitutes a rapid progression which catches sellers off guard and forces them to acquire, fueling the movement.
Tom Lee’s prediction isn’t just aimed at Ethereum
Tom Lee, co-founder of Fundstrat and chairman of BitMine, believes excessive market caution is creating the conditions for a sharp rebound. Before the inflation statistics were released, Fundstrat wrote “that a less bad result can cause a significant increase”in a note dedicated to investor positioning.
Such a statement, however, does not represent a projection solely dedicated to Ethereum. Fundstrat’s analysis focuses more generally on stocks and cryptos. It is closer to Ether because of the rise recorded by the crypto and Tom Lee’s direct relations with BitMine.
The analyst did not release either a price target for ETH or a technical level that could confirm a sustainable recovery. This observed movement may therefore correspond to a relief rally, without necessarily marking the start of a new bullish cycle.
The persistence of inflation also constitutes a risk. Higher prices would encourage the Federal Reserve to maintain a restrictive monetary policy or raise rates. Such a scenario could weigh on assets without a fixed return, including cryptos.
BitMine now holds 4.9% of the ETH supply
Tom Lee’s posture deserves special attention. He chairs BitMine, which is the first corporate treasury in Ether. The company held 5.93 million ETH as of September 7, or 4.9% of the supply used as a benchmark in its press release filed with the SEC.
BitMine had staked 5.07 million ETH, or nearly 85% of its reserves. The company estimated its annualized revenue from this transaction at $330 million, based on a yield of 2.61%. This amount remains a forecast that is sensitive to the price of crypto and the progression of network performance.
Tom Lee declared : “BitMine has been buying ETH every week since launching its treasury strategy on June 30, 2025”. The company had purchased another 28,086 ETH in the week preceding its press release.
These acquisitions reduce the quantity of Ethers automatically available on the market, especially if the tokens are placed in staking. However, they do not guarantee an increase in price. Investor demand, Fed policy and general market developments will remain key.
A rebound in Ethereum towards $2,619 therefore supports the scenario of a relief rally in the short term. Sustainable development will nevertheless require new cash acquisitions, such as those of BitMine, and a less unfavorable monetary environment.
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