Ethereum Price Decline Marks a New Low for 2024
Ethereum (ETH) has fallen below $2,000 for the first time since late 2023, confirming a bearish trend in the cryptocurrency market. The selloff comes amid growing concerns over economic policies and investor uncertainty.
Macroeconomic Factors Continue to Pressure Markets
The Trump administration’s fiscal tightening and trade strategies are contributing to market jitters. Analysts warn that while these policies could bring long-term economic benefits, they are currently driving short-term volatility. Meanwhile, the Federal Reserve remains hesitant on providing immediate liquidity relief.
Ethereum’s Downside Risk Remains High
With ETH losing its hold on major support levels, traders are preparing for further declines. If selling pressure persists, Ethereum could drop toward the $1,500 mark, a level last seen in mid-2023.
relevant news: HERE
