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Ethereum Price Dips Below $2,500 Amid Rate Hike Fears

Guavy AI Editorial Team
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ETH
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The Ethereum (ETH) price has retreated to $2,438 due to heightened rate-hike speculation and a major holder's large-scale sell-off.

A robust US employment report released in August showed that 162K jobs were added, exceeding the 56K forecast. This led to increased expectations of a Federal Reserve rate hike, which can weigh on speculative assets like cryptocurrencies.

The MVRV ratio for Ethereum breached 1.00 on August 21, indicating that the typical ETH holder has returned to unrealized profitability.

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