Ether struggles as inflation fears grow and investors…
By Quoc Dat Tong, Senior Financial Markets Strategist
AI summary of the source article
Ether prices face pressure from rising US inflation and fund outflows. In the week ending 16 October, US spot ether ETFs recorded net withdrawals of about $320 million, with BlackRock's ETHA fund accounting for approximately 93%.
Why it matters
Interest rates matter for ether prices because they affect where people put their money. When savings accounts and bonds offer higher returns, investors may become less willing to hold assets whose prices can rise or fall sharply.
Key facts
- US consumer prices rose 3.7% year-over-year in September, up from 3.4% in August.
- Investors withdrew around $320 million net from US spot ether ETFs during the week ending 16 October.
- BlackRock's ETHA accounted for approximately 93% of those net withdrawals.
Source excerpt · FinanceFeeds
Ether prices (ETHUSD) are facing two challenges. US inflation has risen again, keeping another interest-rate increase on the table. At the same time, investors have been taking money out of funds that hold ether. Both developments help explain the recent pressure on its price, even as Ethereum prepares to improve its network. US consumer prices were 3.7% higher in September than a year earlier, co…