Ethereum Tumbles as Rising Fed Rate Hike Odds Trigger Crypto Selloff

Ethereum (ETH) price dropped 5% to $1,826 on Sunday, underperforming Bitcoin’s 2.81% decline amid a broader crypto selloff and reported outflows from Ethereum ETFs.

The total crypto market cap fell 3% in 24h, while Bitcoin dropped 2.81%.  ETH’s decline reflects both the wider market selloff and additional Ethereum-specific selling. ETH trading volume rose 82.86% in 24h.

A macro shift, with expectations that the US Federal Reserve will hike interest rates and US Treasury yields rising, dampened investor sentiment amid a strong US dollar.

Boston Fed President Susan Collins indicated that interest rates may need to be raised above recent projections due to persistent…