🔴 Ethereum ETF (ETHE) is trading 3.2% down in pre-market as oil and yields pressure crypto

ETHE is trading at $20.91, down -3.19% in pre-market as higher oil prices, Treasury yields and a firmer dollar weighed on crypto risk appetite.

• Leveraged long liquidations amplified the decline; Brent climbed above $101 and the 10-year Treasury yield rose to 5.307%.
• Ether ETFs recorded $201.9 million in outflows on October 6, while traders awaited the Federal Reserve’s September meeting minutes on October 7.