Ethereum Slips Below $2,500 Amid Strong US Jobs Data and Higher Interest Rate Bets

Ethereum's price has slipped below $2,500 after strong US jobs data raised expectations for higher interest rates.

The latest employment report showed that the US economy added 162,000 jobs in August, far above the 56,000 economists had expected. This strengthened expectations that the Federal Reserve could keep monetary policy tighter for longer or even raise rates at its September meeting.

Ethereum's price has been under pressure since failing to sustain its advance toward $2,550. The cryptocurrency is now facing a crucial test around the $2,400-$2,450 area, with traders watching whether it can regain the $2,500 mark or come under deeper pressure.