Despite the approval of the ETF, the price of
Ethereum
plummeted to $3,500. This unexpected drop was a result of heightened negative sentiment in the overall market. The Federal Reserve’s recent decision on
interest rates
, along with their 3-year forecasts and upcoming inflation data on Wednesday, played a significant role in triggering this downward trend. As bond yields surged following the latest economic data, investors fled from risky assets, leading to a domino effect on
Ethereum
and other cryptocurrencies. Stay updated on the latest tech news by visiting
NEWSLINKER
.