Neutral
Ethereum price retreats to $2,400 as strong US jobs data raises Fed rate hike expectations.
In the past 24 hours, Ethereum's price has retracted toward the $2,400 support level after reaching a peak of $2,546. This pullback follows the release of robust August US labor data, which has increased the likelihood of a Federal Reserve rate hike. Despite this, spot Ethereum exchange-traded funds (ETFs) have continued to see significant inflows, indicating sustained institutional interest.
Key points
- Ethereum's price has pulled back to the $2,400 support level after reaching a peak of $2,546, influenced by strong US labor data.
- Spot Ethereum ETFs recorded $148 million in net deposits on Thursday, raising cumulative inflows to $13 billion.
- Ethereum balances on centralized platforms fell to approximately 14.92 million ETH, marking a 2026 low.
Sources
AI-generated from public news sources. Not financial advice.
