Ethereum Surges 13% Amid Tariff Relief and Policy Uncertainty

Ethereum (ETH) price experienced a significant surge, rising 13% in the last 24 hours. This increase was driven by the relaxation of auto tariffs on Canada and Mexico by U.S. President Trump, which alleviated economic uncertainty and boosted risk sentiment across global markets, including cryptocurrencies. The policy shift is expected to mitigate inflationary pressures across key industrial and transportation sectors, creating a more favorable macroeconomic backdrop for risk assets.

However, the recent Petra network upgrade and leadership shuffle at the Ethereum foundation have stirred debate among ETH investors. On-chain data suggests that investor sentiment towards Ethereum remains measured rather than outright bullish. At press time on Thursday, March 6, ETH 2.0 staking deposits had declined to 33.6 million ETH, reflecting a net withdrawal of over 25,000 ETH—equivalent to approximately $554 million at current market prices. These withdrawals occurred less than 24 hours before the White House Crypto Summit, where Trump is set to meet with Ripple and Cardano founders to discuss regulatory policies for the digital asset industry.

The large-scale unstaking activity ahead of a key policy event raises critical concerns about Ethereum’s short-term price trajectory. The movement of such a substantial number of tokens back into circulation suggests that large investors are positioning themselves for short-term profit opportunities rather than committing to long-term staking rewards. This could indicate expectations of increased volatility in response to the summit’s outcomes. The timing of these withdrawals implies that investors may be anticipating significant policy announcements that could impact Ethereum’s price action. While some market participants remain optimistic about potential regulatory clarity, others appear to be hedging their bets, preparing to capitalize on potential market fluctuations following the summit.

Ethereum price is attempting a recovery after rebounding from local lows, but resistance levels and bearish momentum indicators remain a concern. ETH currently trades around $2,210, down 1.41% on the day, as bulls struggle to sustain momentum following the recent dip below $2,000. The Parabolic SAR indicator suggests that the broader trend remains bearish, with ETH failing to break above key resistance levels. Immediate resistance stands at $2,553, a critical threshold that must be reclaimed for bullish continuation. Further resistance levels extend toward $2,800 and $