Ethereum Price Bounces Back Above $2,400 Following Fed Hike and CLARITY Act Setback

The Ethereum price rebounded to around $2,461 after briefly falling below the key $2,400 support level following the Federal Reserve's rate hike and setback of the CLARITY Act.

Investors reacted to these fundamental events, causing the market to drop. However, buyers returned and pushed the price back above $2,400, resulting in a 2.97% increase for ETH over the past 24 hours.

The surge came after a difficult Wednesday for the crypto market, with Bitcoin trading at $76,580, XRP at $1.31, and Solana approaching $100.88.