🔴 ETHE is trading 3.50% down today as hawkish Fed commentary and a broader crypto decline pressure risk assets

ETHE is trading at $14.58 (-3.50%) as hawkish Federal Reserve commentary and a broader decline in the crypto market weigh on digital asset sentiment.

• The move follows a 2.96% drop in Ethereum at the prior close, alongside weakness in Bitcoin and other major cryptocurrencies.
• Hawkish remarks from the Fed on July 15-16 have increased pressure on yield-sensitive assets, leading to a pullback after a strong three-session rebound.
• Traders are currently digesting higher-rate risks as momentum fades following recent gains across the digital asset complex.