Ethereum Price Drops by Over 4% as Investors Await Fed Rate Decision

Ethereum's price has fallen by over 4% in the past 24 hours, reaching $1,874.19 on July 28.

This decline is largely driven by investor caution ahead of the US Federal Reserve's policy decision, which typically leads to higher interest rates and reduced demand for risk assets.

Institutional demand has also weakened, with spot Ethereum ETF outflows signaling a decrease in investment. The delay in advancing the US CLARITY Act has created fresh uncertainty around future cryptocurrency regulations.

Broader financial markets have also contributed to the decline, with weakness in global technology stocks and a sharp correction across Asian equity markets weighing on investor sentiment.