$ETH is pulling back again, down around 1.8% in 24 hours as macro pressure weighs on the broader crypto market.
This looks less like an ETH specific problem and more like a risk off move driven by rising expectations for a possible October Fed rate hike. Futures selling is adding pressure too, while spot activity remains relatively calm.
For me, the $2,635 to $2,650 zone is the key area to watch. If ETH can hold there, some consolidation could follow
But a clean break below $2,635 could open the door toward $2,500.
The next major test is the August PCE report on September 30, which could quickly reshape rate expectations and crypto sentiment.
#Altcoin Season# #Macro Insights#
This looks less like an ETH specific problem and more like a risk off move driven by rising expectations for a possible October Fed rate hike. Futures selling is adding pressure too, while spot activity remains relatively calm.
For me, the $2,635 to $2,650 zone is the key area to watch. If ETH can hold there, some consolidation could follow
But a clean break below $2,635 could open the door toward $2,500.
The next major test is the August PCE report on September 30, which could quickly reshape rate expectations and crypto sentiment.
#Altcoin Season# #Macro Insights#
