Ethereum Price Plunges Below $1,850 Amid Rising Treasury Yields and Slowing Institutional Demand

Ethereum's price slipped below $1,850 on August 3 as investors grew cautious amid rising US Treasury yields and slowing institutional demand.

The world's second-largest cryptocurrency weakened by around 1.1%, 1.6% over the past 24 hours, with prices in USD, INR, GBP, Euro, and JPY all declining.

The decline is attributed to several factors, including spot Ethereum ETF flows slowing down due to reduced institutional demand and higher Treasury yields encouraging investors to shift capital toward fixed-income assets.

Weak on-chain activity, with lower transaction volumes and fewer active wallet addresses, further contributed to the price drop.