Ethereum Faces Mounting Sell-Off Pressure

A sharp downturn has gripped the cryptocurrency sector in early February, with Ethereum bearing a significant portion of the selling pressure. The world’s second-largest digital asset has breached crucial support levels, with its price currently fluctuating between $2,100 and $2,150. Market-wide liquidations across major cryptocurrencies like Bitcoin and Ethereum totaled over $704 million within a single 24-hour period, prompting analysis of the underlying causes.

The current price slump reflects a broad retreat from speculative investments. Growing uncertainty regarding the timing of anticipated interest rate cuts, coupled with weakness in technology stocks, has driven investors to reduce risk exposure. Cryptocurrencies are typically among the first asset classes to experience selling pressure in such Read more...