$ETH Falls Under $4,000 as #MacroConcerns Mount
Market analysts are pointing to technical breakdowns and reduced institutional flows as key factors behind
$ETH's recent decline. The cryptocurrency temporarily traded below the psychologically important $4,000 level during early Thursday trading sessions.
Recovery efforts brought
$ETH back to approximately $4,037, though the asset remains down 2.91% over the past 24 hours. This marks the first time since early August that #Ethereum has dipped below the critical $4,000 threshold.
The decline triggered significant liquidations across altcoin markets, with over $1.7 billion wiped out.
$ETH alone accounted for $212.9 million in #liquidations as traders faced cascading position closures.
Federal Reserve policy decisions continue to influence crypto market sentiment. Despite September's 25-basis-point rate cut, Chair Jerome Powell's cautious stance on future reductions has dampened bullish expectations that many traders held.
#Ethereum spot ETF performance has also shown weakness throughout September. Net inflows totaled just $110 million this month, a stark contrast to August's impressive $3.8 billion in institutional investments.
