ETH Open Interest has ramped up hard after the CPI print. A lot of shorts that piled into the downside momentum. Most of them are sitting comfy and steady so don't expect a squeeze straight away. This only gets interesting the moment you start testing some of those levels where a lot of open interest entered. For ETH that's above $2480, for BTC above $83K. But with open interest like this you are pretty guaranteed to keep volatility high. Lots of participation and capital back into the market which usually goes away the days before economic data like CPI.