Ethereum Price Plunges Below $2,500 Amid Fed Expectations

Ethereum's price is under pressure as tighter Federal Reserve expectations weigh on digital assets. The cryptocurrency market lost 1.71% over 24 hours, reducing its value to $2.62 trillion.

The Ethereum price traded at $2,436 on August 29, slipping below the support and resistance of $2,350-$2,500 before the weekend. Despite this, U.S. spot Ethereum ETFs recorded net inflows of $102.18 million on August 28, marking the 10th straight day of such inflows.

The aggregate consumption by these funds amounted to approximately $1.52 billion in this period. This stable institutional demand is a notable trend despite short-term volatility. The best day of the streak was August 27, when it added $234.51 million to the products.