Ethereum Stuck Below $2,500 as Traders Wait for Inflation Data

Ethereum's price remains stuck below $2,500, despite strong ETF inflows and accumulation by some holders.

The token has failed to hold gains above this level since September 4, with traders waiting for the US inflation data release on September 11.

According to CoinGecko, Ethereum's price is around $2,480, up 0.8% over the past seven days.

The lack of direction in ETH's price comes as markets are pricing in a close to 60% chance of a rate hike this month following stronger US employment figures.

Fed Governor Christopher Waller has tied his position on a September increase to the upcoming inflation numbers, stating that he would support keeping rates unchanged if inflation continues to ease.