Ethereum Reclaims $2,431 Amid Rate Hike and Regulatory Setback

Ethereum rebounded from recent losses to reclaim the crucial $2,431 level on Wednesday, despite the Federal Reserve's interest rate hike and a setback in US regulatory efforts.

The cryptocurrency gained 1.7% over 24 hours, with exchange outflows, renewed buy-side activity, and short liquidations suggesting that crypto-native traders are buying the pullback.

However, continued outflows from US spot Ethereum ETFs indicate that institutional demand remains weak, contrasting with accumulation signals on cryptocurrency exchanges and in derivatives markets.