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Ethereum dips as traders wait for the Fed rate decision

Spot Ether was last down 1.5% to about $1,890, while spot ETH ETFs saw $14.5 million in inflows and capped a seven-day total of $71.2 million.

Reported · Written up by our desk · Market Structure

Ethereum fell on Wednesday, slipping 1.5% to about $1,890 after trading off a session high near $1,926 as traders held positions ahead of the Federal Reserve’s rate decision, according to Decrypt.

Spot ETH ETFs attracted $14.5 million in inflows on the day, extending three straight weeks of net positive flows to about $71.2 million over the seven days ending July 28.

The broader crypto market was described as waiting on the Fed, with Bitcoin hovering near $64,000 and the Fear and Greed Index at 29, in deep fear territory.

On the charts, Ethereum’s so-called death cross remained in place, with the 50-day exponential moving average still below the 200-day level, keeping the structural bias bearish. Decrypt also noted trend strength indicators improving slightly, including an ADX reading of 23.2 and RSI at 54.7, but said the upside momentum would likely need a catalyst from the Fed to follow through.

Latest closeBitcoin $63,834.07 ▼0.1%|Ethereum $1,899.10 ▼1.1%

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