Ethereum Prices Plummet Amid Hawkish Fed, Slowing ETF Inflows

Ethereum's price has declined in recent days due to a combination of factors. The US Federal Reserve's hawkish stance on interest rates and inflation has strengthened the US dollar, making it more expensive for investors to buy cryptocurrencies like Ethereum.

The slowing pace of investment into spot Ethereum ETFs has also contributed to the decline. Although institutional investors continue to show interest in Ethereum, fresh inflows have slowed down compared to previous weeks.

Additionally, Ethereum's network activity has decreased significantly over the past few weeks, with active wallet addresses falling to multi-month lows. This suggests weaker retail participation and lower transaction demand on the blockchain.