ETC's Price Movement Driven by Macro Flows Rather than Coin-Specific Catalyst

Ethereum Classic's price moved by 3.14% over the last 12 hours, but this was largely driven by broader macro and crypto market flows rather than any specific event or news related to ETC itself.

The main drivers of the overall market movement were dovish remarks from Fed Governor Christopher Waller about disinflation and keeping rates unchanged, which sparked a broad crypto rally. This was accompanied by significant net inflows into spot Bitcoin ETFs ($730 million) and spot Ethereum ETFs ($141 million), indicating renewed institutional demand for BTC and ETH, which in turn pulled the broader altcoin complex higher.

However, this momentum was short-lived as the US jobs report came out stronger than expected, increasing the odds of further Fed tightening. This led to a market-wide intraday pullback, with Bitcoin and Ethereum dropping by around 2% and other altcoins experiencing similar declines.