Ethereum Price Plunges 4% Amid US Fed Policy Jitters

Ethereum's price has declined by over 4% in the past 24 hours, falling to around $1,874.19 on July 28th.

This comes as investors pull back from riskier assets ahead of the US Federal Reserve's policy decision, which is expected to have a significant impact on interest rates and demand for cryptocurrencies.

The decline in Ethereum's price has been driven by a combination of macroeconomic uncertainty and crypto-specific developments, including softer institutional demand, ETF outflows, and uncertainty surrounding US cryptocurrency regulation.

Despite the short-term decline, analysts believe Ethereum's long-term fundamentals remain supported by growing staking participation and continued blockchain adoption.