Ethereum falls nearly 9% from recent highs amid broader market sell-off driven by rising yields and inflation concerns.
Ethereum (ETH) traded at $2,110, up 0.5% on Tuesday, after retreating from levels above $2,300. The decline follows a week of selling pressure as rising Treasury yields and persistent inflation concerns weigh on risk assets, including cryptocurrencies.
The top altcoin dropped nearly 9% from its recent peak, underperforming Bitcoin and other major tokens. Market sentiment has soured as macroeconomic headwinds, including expectations of prolonged higher interest rates, dampen appetite for speculative assets.
ETH’s pullback mirrors broader weakness in digital asset markets, with traders reducing exposure amid uncertainty over monetary policy and economic growth.