Ethereum Selling Pressure High, ETH Price Most Crisis Since 2021?

Not only was it influenced by the second murder of Trump by the Secret Service, the fall in ETH prices was also due to anticipation of a monetary policy decision by the Fed this weekend. The Fed’s decision has made the crypto market a little anxious, especially towards the end of the third quarter of 2024.

The Fed is likely to cut interest rates so that DeFi returns are attractive enough to pay attention to. However, the focus is also on rebuilding the DeFi lending market on the Ethereum mainnet. This could be used as a pump against Ethereum’s poor performance price.

ETH Price Keeps Going Down

Currently, the ratio of ETH to BTC pairs is at 0.039. This ratio is considered the lowest since April 2021. This decline in performance was analyzed starting on July 24 because the ETH/BTC pair fell below the ETH price range line between May 21 and July 24.

Please note, the ETH/BTC pair is the price ratio of ETh and BTC. The pair shows how much BTC is needed to buy 1 ETH.

The price of ETH to USDT also experienced a decline. When this article was written on September 17, ETH had decreased by -0.39%. Currently, the price of ETH is $2,307.