Ethereum reclaims $2,431 as buyers absorb rate hike and regulatory setback

Key takeaways

• Ethereum gained 1.7% and reclaimed the important $2,431 level.
• US spot Ethereum ETFs lost $365.5 million across Tuesday and Wednesday.
• A break above $2,544 could target $2,626, while major support sits near $2,269–$2,282.

Ethereum (ETH) gained 1.7% over 24 hours and reclaimed $2,431 despite the Federal Reserve’s first interest-rate increase in three years and the CLARITY Act’s failure to advance in the US Senate.

Exchange outflows, renewed buy-side activity in perpetual futures and short liquidations suggest that crypto-native traders are buying the pullback. 

However, continued outflows from US spot Ethereum exchange-traded funds indicate that institutional demand remains weak.

Ethereum holds above $2,400 after Fed rate hike

The Federal Reserve raised its benchmark interest-rate range by 25 basis points to 3.75%–4% on Wednesday.

The ...