Ethereum’s price has slipped to $2,800 as fears of a Bank of Japan interest rate hike have raised market anxieties. Analysts indicate that sustaining a price above $3,200 may trigger a recovery, but dropping below $2,800 could signal a bearish trend.
Despite the price decline, Ethereum ETFs reported inflows of $312 million, showcasing ongoing institutional interest. Furthermore, onchain metrics suggest a potential local bottom for ETH, yet a significant demand drop is shown by reduced network fees.
Leave a Reply