Ether (ETH) is holding its ground, nudging up to $2,584.90 as of July 3, 2025, as robust U.S. labor market data sends ripples through financial markets. CoinDesk Research reports a modest 0.55% gain for Ethereum over the past 24 hours, with the broader crypto market also seeing a gentle lift, up 0.08% according to the CoinDesk 20 Index.
Strong U.S. Jobs Data Sparks Market Euphoria
The catalyst for this buoyancy? A surprisingly robust U.S. nonfarm payroll report. June saw an addition of 147,000 jobs, far outpacing the anticipated 110,000 and even superseding May’s revised 144,000. Meanwhile, the unemployment rate dipped to 4.1%, shattering expectations of a rise to 4.3%, as per the Bureau of Labor Statistics.
This unexpected labor market resilience propelled U.S. equities to fresh peaks. The S&P 500 soared to 6,279.35, and the Nasdaq Composite surged to 20,601.10, each climbing over 0.8% in a single day. The Dow Jones Industrial Average wasn’t left behind, adding 344 points to land at 44,828.53. For more on how the Nasdaq’s performance contrasts with other assets, see Nasdaq Hits Record While Bitcoin, Gold Remain Under Pressure After Latest Macro Data.
Yet, this labor strength muddles the Federal Reserve’s monetary policy outlook. Rate cuts—once a foregone conclusion—now hang in the balance, with traders reevaluating the probability of any downward adjustments this year.
Ethereum’s Resilience Amid Uncertainty
Despite this monetary conundrum, Ethereum remains unfazed. The crypto sphere seems buoyed by the broader risk-on sentiment spilling over from equities. “The market’s reaction highlights the interconnectedness of asset classes,” notes crypto analyst Maria Chen. “When traditional markets rally, crypto often catches the updraft.”
Technical analysis paints a vivid picture of ETH’s recent dance. Trading within a $71.20 corridor, Ethereum witnessed a breakout during the 13:00 UTC hour on July 3, reaching a peak of $2,625.10 with significant volume activity—464,365 ETH, to be precise. A brief pullback followed, but the $2,569.18 mark proved a solid support, with a spirited rebound closing near $2,584. As explored in our recent coverage of Ethereum set for rally as it holds above crucial $2.4K price: Analyst, this resilience could signal further upward momentum.
The 17:16 UTC candle was particularly telling, as a notable volume spike (5,308 ETH) pushed the price to $2,580.75, hinting at bullish undercurrents. Traders eye resistance near $2,630, with momentum suggesting a potential retest, provided macroeconomic conditions remain favorable.
Historical Context and Future Implications
Historically, Ethereum’s performance has mirrored broader market trends, often acting as a barometer for investor sentiment in the crypto realm. As we turn the page into the second half of 2025, questions loom large: Can this strength endure? Will the Fed’s policy stance pivot, and how might it ripple through digital assets?
“Ethereum’s resilience is noteworthy, but the landscape is shifting,” observes blockchain strategist David Lin. “Investors should watch for macroeconomic cues and policy shifts that could redefine the playing field.”
As we forge ahead, the interplay between traditional finance and crypto will likely intensify. Ethereum, with its dynamic community and robust ecosystem, remains a pivotal player, but its path is anything but certain. The coming months promise both challenges and opportunities—an unfolding narrative that demands close attention.
Source
This article is based on: ETH Holds Firm as Strong U.S. Jobs Data Lifts S&P 500 and Nasdaq Composite to Record Highs
Further Reading
Deepen your understanding with these related articles:
- Solana Skyrockets as Bitcoin and Ethereum Grind Higher: Where Do Prices Go Next?
- Bitcoin Nears $108K as Fed Rate Cut Bets Rise; Traders Eye Ether, Solana, Cardano
- Ethereum and XRP Pump on Relief Rally, But These Coins Are Mooning Harder: Analysis
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
