On Wednesday’s announcement that the US is pausing tariffs for 90 days for all countries except China, the stock markets across the world, plus the crypto market, shot skywards. However, after gains on the day by $ETH and $SOL of 12.4% and 13.2% respectively, both layer 1 cryptocurrencies have dropped more than 4% on Thursday. Where are they going next?

Market drops on better than expected CPI data release

Before going on to analyse the price action for $ETH and $SOL, it has to be taken into consideration that the Trump tariffs are not done yet, and that the U.S. CPI data has just been released. 

On this note, the CPI data makes generally positive reading. The month on month reading for Core CPI is 0.1% from a forecast 0.3%, while the year on year reading for CPI is 2.4%, which is …