Ethereum (ETH) is down 1.7% on Wednesday as low Consumer Price Index (CPI) inflation data and rising ETH ETF inflows hint that a rally may be imminent.
Ethereum ETF s record second consecutive day of inflows amid in-line CPI data. Jump Trading moves over $46 million worth of ETH in what may be another dump. Key trendline holds strong after rejecting Ethereum 's upward move. Ethereum is down 1.7% on Wednesday as low Consumer Price Index inflation data and rising ETH ETF inflows hint that a rally may be imminent. However, a key trendline suggests ETH may repeat history by consolidating for a few weeks before beginning a fresh upward move.
July CPI inflation rate falls to 2.9%, below expectations of 3.0%. Core CPI inflation fell to 3.2%, in-line with expectations of 3.2%. This marks the first month with CPI inflation below 3.0% since March 2021. The first rate cut since 2020 is coming next month. — The Kobeissi Letter August 14, 2024 As a result, Ethereum could see a recovery in the coming weeks as risk assets like cryptocurrencies thrive during a lower interest rate environment.
SEO Cryptocurrencies Technical Analysis ETF
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum (ETH) Withdrawals on Exchanges Skyrocket on Spot ETF Mania, Data SaysMassive ETH accumulation wave confirmed days ahead of most anticipated announcement for altcoiners in 2024
Read more »
Samson Mow Slams ETH Ahead of Ethereum ETF LaunchSamson Mow points out at the “abysmal” ETH price action ahead of Ethereum ETF launch
Read more »
Ancient Ethereum Foundation Wallet Sells Millions in ETH Ahead of ETF LaunchEthereum Foundation sold large ETH amount prior to spot ETF launch
Read more »
Ethereum Holders Accumulate 113K ETH, Outpacing Spot ETF InflowsCrypto Blog
Read more »
Ethereum (ETH) Crashes to $2,800: Did ETF Spark Bloodbath?Ethereum in awful position as institutional sell-offs push price below $3,000 once again
Read more »
Ethereum falls nearly 6% following Fed's decision to hold rates steady amid ETH ETF outflowsEthereum (ETH) is down 6% on Thursday following huge exchange deposits by Elwood Technologies and net outflows across ETH ETFs.
Read more »