Ethereum

Donald Trump

President Donald Trump

The price of Ether has tumbled 6% in the last 24 hours amid crypto market jitters, falling from an intraday high of $2,425 on Sept. 15 to bottom out at $2,260 on Sept. 16.
The asset briefly dropped below $2,200 during the flash crashes of Aug. 5 and Sept. 7, and it is now back at levels not seen since January.&nbsp;
Meanwhile, the broader crypto market has retreated 4.5%, with total capitalization sinking back to $2.12 trillion, though Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) has taken the brunt of the pain.
<figure>
 <img alt="ETH falls 6% amid Trump assassination attempt, looming rate cuts, ‘FUD’ wave" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191f965-f1e8-77e1-8ac5-c8c507f05668">
 <figcaption style="text-align: center;">
 The price of Ether over the past 24 hours. Source: TradingView
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The move comes amid an apparent wave of FUD — fear, uncertainty and doubt — on X, with even analysts and crypto industry observers seemingly jumping on the Ether-bashing bandwagon.
“Half of my feed is ETH FUD at this point,” <a data-ct-non-breakable="null" href="https://twitter.com/antiprosynth/status/1835241553238827368" rel="null" target="null" text="null" title="null">exclaimed</a> Ethereum developer Antiprosynthesis in a post on X on Sept. 15.
Meanwhile, economist Alex Krüger compared <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/history-of-ethereum-blockchain" rel="null" target="null" text="null" title="null">Ethereum</a> to Brazillian footballer Neymar Junior.
<blockquote class="twitter-tweet">
 If Ethereum were a football player <a href="https://t.co/OZLwpye8R4">pic.twitter.com/OZLwpye8R4</a>— Alex Krüger (@krugermacro) <a href="https://twitter.com/krugermacro/status/1835515744794386448?ref_src=twsrc%5Etfw">September 16, 2024</a>
</blockquote>
Crypto analysts James Check and Kaleo also <a data-ct-non-breakable="null" href="https://twitter.com/_Checkmatey_/status/1835519499522765178" rel="null" target="null" text="null" title="null">joined</a> the ETH-bashing,&nbsp;<a data-ct-non-breakable="null" href="https://twitter.com/CryptoKaleo/status/1835370633003151364" rel="null" target="null" text="null" title="null">posting</a>&nbsp;memes about the collapse in prices and the decline against BTC.&nbsp;
Meanwhile, The Crypto Dog&nbsp;<a data-ct-non-breakable="null" href="https://twitter.com/TheCryptoDog/status/1835283478059037145" rel="null" target="null" text="null" title="null">told</a>&nbsp;his 820,000 X followers on Sept. 15 that even Bitcoin Cash (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-cash-price-index" rel="null" target="null" text="null" title="null">BCH</a>) has outperformed Ether in the last year.&nbsp;
The ETH/BTC ratio is now at its lowest level since April 2021, hitting 0.038 on Sept. 16, <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/ETHBTC/" rel="null" target="null" text="null" title="null">according</a> to TradingView.
<figure>
 <img alt="ETH falls 6% amid Trump assassination attempt, looming rate cuts, ‘FUD’ wave" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191f966-b6ba-742b-8737-a39c0bb79112">
 <figcaption style="text-align: center;">
 ETH/BTC. Source: TradingView
 </figcaption>
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The ETH price slump has happened at the beginning of a very busy week for the United States, with the Federal Reserve poised to announce a rate cut on Sept. 18.
According to the CME Fed Watch <a data-ct-non-breakable="null" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="null" target="null" text="null" title="null">tool</a>, the odds are currently 41% of a 25-basis-point rate cut and a 59% chance of a larger 50-basis-point cut.
Earlier this month, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/federal-reserve-rate-cut-bearish-bitcoin-price-bitfinex-analysts" rel="" target="_self" text="null" title="https://cointelegraph.com/news/federal-reserve-rate-cut-bearish-bitcoin-price-bitfinex-analysts">Bitfinex analysts predicted</a> that the US central bank’s widely expected rate cut could lead to a dip in the crypto market.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/3-reasons-why-ethereum-price-has-lagged-behind-bitcoin-in-2024" rel="null" target="null" text="null" title="null">3 reasons why Ethereum price has lagged behind Bitcoin in 2024</a>
Additionally, former US President Donald Trump <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/former-president-trump-safe-following-gunshots-in-close-proximity" rel="null" target="null" text="null" title="null">survived</a> what mainstream media are calling a second assassination attempt on Sept. 15. 
Trump was unharmed, and a suspect who fled the scene was arrested and identified as 58-year-old Ryan Wesley Routh.
It is not clear whether the incident had any impact on ETH markets since crypto prices <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-predictions-trump-victory-assassination" rel="null" target="null" text="null" title="null">jumped</a> following the previous assassination attempt on the presidential candidate in mid-July.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/simple-change-save-ethereum-roadmap-to-hell/" rel="null" target="null" text="null" title="null">Proposed change could save Ethereum from L2 ‘roadmap to hell’</a>

ETH falls 6% amid Trump assassination attempt, looming rate cuts, ‘FUD’ wave

Cointelegraph

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