Crypto
Ethereum Prices Plunge as Oil Surges Past $105
Ethereum's price dropped by 4% to around $2,420 due to rising oil prices and increased US Treasury yields.
The surge in crude oil prices above $105 put pressure on the cryptocurrency market, causing Ethereum to fall. The rise in US Treasury yields also contributed to the decline, as it raised inflation concerns among investors.
August's Producer Price Index showed a 0.4% monthly rise and 5.4% annual inflation, boosting expectations for a Federal Reserve rate hike.