Ethereum Price Tumbles Amid Broader Market Decline

Ethereum's price fell 1.91% to $1,839 on Monday, extending pressure after last week's broader market decline.

The key near-term weekly recovery target for Ethereum is the $2,000 level, which could be reached if it regains its recent consolidation point of $1,870-$1,900.

Regulatory developments may impact market sentiment, but Monday's Senate schedule includes only a spending bill and excludes the CLARITY Act. Supporters of the bill have a slender window to work with before the Senate recess starts on August 10.

Ethereum spot ETFs recorded $9.03 million in net inflows on July 31, according to SoSoValue data, which is equivalent to 4.55% of Ethereum's market capitalization or $10.23 billion in total assets.