September CPI data is out:
Year over year: 3.7%, above the 3.6% expected.
August was 3.4%, so it’s risen for two months in a row.
After the data was released, ETH fell below $2,500 to around $2,417, down about 3.6%. BTC also fell below $82,000, while SOL dropped about 5%.
Why a hotter-than-expected CPI hit ETH:
The logic is straightforward: hotter-than-expected inflation → markets reprice the odds of a rate hike → the chance of a hike at the October 28 FOMC meeting rises → Treasury yields climb → riskier assets come under pressure.
With 10-year Treasury yields already above 5.2%, CPI coming in hotter than expected gave the Fed another reason to strike. Capital moved out of volatile assets like BTC and ETH and into “risk-free” bonds.
But that was just the trigger. The powder keg was already there:
ETH ETFs had already recorded net outflows for ten consecutive trading days before the CPI release—with no inflows on any day in October and cumulative net outflows of about $542 million. BlackRock’s ETHA alone saw outflows of about $477 million.
Institutions have been systematically reducing their ETH holdings. This didn’t start today.
The $2,500 level had held twice—$2,495.93 on October 12 and $2,534 on October 13—but once CPI came out, that support that had held twice finally broke.
ETH’s current price structure:
ETH is caught between the 50-day moving average (around $2,497) and the 200-day moving average (around $2,331). $2,495 was the support that gave way, and short-term resistance has shifted to $2,544. If the price continues to fall, $2,331 is the next significant support zone.
One counter-signal: on the day CPI was released, ETH ETFs ended their ten-day outflow streak with a small inflow of $24.8 million. Whether this marks the end of the institutional selling phase remains to be seen in the coming data.
ETH developers are also discussing protocol upgrades today, including the Glamsterdam and Hegota upgrade tracks. Whether these bring a new narrative is another thing to watch in the short term.
ETH is currently about 41% below its price a year ago. How do you view this level?
$ETH
#以太坊跌破2500美元
Year over year: 3.7%, above the 3.6% expected.
August was 3.4%, so it’s risen for two months in a row.
After the data was released, ETH fell below $2,500 to around $2,417, down about 3.6%. BTC also fell below $82,000, while SOL dropped about 5%.
Why a hotter-than-expected CPI hit ETH:
The logic is straightforward: hotter-than-expected inflation → markets reprice the odds of a rate hike → the chance of a hike at the October 28 FOMC meeting rises → Treasury yields climb → riskier assets come under pressure.
With 10-year Treasury yields already above 5.2%, CPI coming in hotter than expected gave the Fed another reason to strike. Capital moved out of volatile assets like BTC and ETH and into “risk-free” bonds.
But that was just the trigger. The powder keg was already there:
ETH ETFs had already recorded net outflows for ten consecutive trading days before the CPI release—with no inflows on any day in October and cumulative net outflows of about $542 million. BlackRock’s ETHA alone saw outflows of about $477 million.
Institutions have been systematically reducing their ETH holdings. This didn’t start today.
The $2,500 level had held twice—$2,495.93 on October 12 and $2,534 on October 13—but once CPI came out, that support that had held twice finally broke.
ETH’s current price structure:
ETH is caught between the 50-day moving average (around $2,497) and the 200-day moving average (around $2,331). $2,495 was the support that gave way, and short-term resistance has shifted to $2,544. If the price continues to fall, $2,331 is the next significant support zone.
One counter-signal: on the day CPI was released, ETH ETFs ended their ten-day outflow streak with a small inflow of $24.8 million. Whether this marks the end of the institutional selling phase remains to be seen in the coming data.
ETH developers are also discussing protocol upgrades today, including the Glamsterdam and Hegota upgrade tracks. Whether these bring a new narrative is another thing to watch in the short term.
ETH is currently about 41% below its price a year ago. How do you view this level?
$ETH
#以太坊跌破2500美元