Ethereum Rises on Weak US Jobs Data and ETF Inflows

Ethereum has found stability around its key support zone after a volatile stretch, and is currently trading above $1,900. The cryptocurrency's price has risen by approximately 1.14% over the past 24 hours, with a 7-day change of about 2.68%. This comes as the US economy unexpectedly lost 23,000 nonfarm jobs in July, missing economists' expectations for job growth.

The weak employment data reduced expectations for another Federal Reserve rate move, pushing Treasury yields lower and improving market sentiment for risk-sensitive assets like Ethereum.

Renewed institutional demand has also provided support to the cryptocurrency. US spot Ethereum ETFs have recorded renewed inflows in recent sessions, with over $240 million in weekly inflows.