Ethereum May Plummet to $2,500 Amid Higher Yields

Ethereum has consolidated below $2,800 after gaining more than 8% over the past week, due in part to steady US spot ETF inflows. However, despite these gains and $746 million in combined inflows over five consecutive sessions, Ethereum may still crash to $2,500.

The token's price has traded mainly between $2,635 and $2,700 during its latest session after reaching a recent high near $2,786. Buyers pushed the token through $2,500 and $2,600 before selling picked up between $2,700 and $2,800.

Higher US Treasury yields have coincided with Ethereum's failure to extend its rally above $2,800. The 10-year yield reached roughly 5.15% on Thursday as Ethereum slipped back towards the mid-$2,600s after touching $2,786.