Ethereum dropped below $2,400 today after fresh U.S. inflation data came in higher than expected. This news caused high selling pressure across the crypto market. Rising bond yields and continuous money outflows from spot Ethereum ETFs also pushed the price down. More than $100 million in Ethereum long positions were wiped out in a short time. Traders are now watching key support levels around $2,300 to see if the market can stabilize.
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