Ethereum Holds Steady Amid ETF Outflows and Regulatory Uncertainty
Despite a recent Federal Reserve rate hike and stalled progress on the CLARITY Act in the U.S. Senate, Ethereum (ETH) has maintained its position above $2,400, trading near $2,440 with limited price impact from these developments. The Fed's decision to raise rates by 25 basis points was largely anticipated, and officials expect one more hike before year-end as they continue prioritizing inflation reduction. Meanwhile, the CLARITY Act failed to secure enough Senate votes for cloture, prolonging regulatory uncertainty in the crypto market. Despite this, Ethereum has reclaimed key technical levels such as the 20-day Exponential Moving Average and $2,431 support zone. The Relative Strength Index (RSI) at 53 suggests consolidation rather than exhaustion. Exchange outflows for ETH hit a three-month high on Tuesday with over 152,000 ETH leaving exchanges, though inflows briefly returned before renewed outflows followed. US spot Ethereum ETFs also experienced significant outflows totaling $365.5 million across two days.
Topics: CLARITY Act ETF outflows Ethereum Federal Reserve rate hike