Crypto
Ethereum Faces Selling Pressure Ahead of US Inflation Report
Ethereum's price has been facing increased selling pressure on exchanges throughout August.
The cryptocurrency has experienced net outflows, resulting in a price dip from $1920 to $1875 on August 10.
This downward trend may be attributed to institutional demand softening ahead of the U.S. inflation report scheduled for August 12.
The market is cautious as traders watch the $1800-$1960 range closely, with potential downside targets at $1700 if inflation data disappoints or a rebound toward $2000 if it cools down.