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Ethereum Price at Risk of Losing $2,400 Amid Rising Oil Prices

Guavy AI Editorial Team
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Ethereum's price has fallen nearly 4% over the past 24 hours to around $2,420, putting the $2,400 level at risk.

The decline comes as oil prices have climbed above $105 a barrel and US Treasury yields rose sharply. This increase in inflationary pressures is weighing on risk assets, including Ethereum and Bitcoin.

Despite fresh demand for US spot Ethereum exchange-traded funds, the price of Ether has fallen to its lowest point since Sept. 10's intraday high of $2,512.

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