Ethereum Price Drops Amid Macro Concerns and Leverage Unwinding

Ethereum's price has dropped by 1.22% on September 13 to $2,487.51, and by 0.38% over the past week.

The decline in Ethereum's value reflects broader macroeconomic concerns and a temporary unwinding of leverage following a period of consolidation.

Investors have recalibrated their risk exposure due to shifting expectations regarding Federal Reserve monetary policy and sticky inflation metrics, which have pushed Treasury yields higher and dampened market risk appetite.

Ethereum's price has been under pressure from technical supply near critical resistance levels, prompting short-term profit-taking among derivative market participants. Thin weekend order book depth amplified intraday price fluctuations, leading to minor long liquidations across major exchanges.