Ethereum price has recorded a massive selling pressure today, as evidenced by the dip of over 3% in its value today.
The dip comes amid a retreat in the broader digital assets space, with the global crypto market cap falling 1.2% to $4.15 trillion at the time of writing.
Notably, in the latest Ethereum news, the investors were already anticipating a volatile movement for BTC and ETH prices due to the latest Fed Chair Jerome Powell speech.
In his speech, Powell didn’t mention anything about the central bank’s upcoming plans with their rate cut plans, which have spooked the investors.
On the other hand, another potential reason behind the latest ETH price dip could be cooling institutional interest.
Although the US Spot Ethereum ETF fund flow remained positive, it has significantly cooled compared to the start of the week.
Amid this, market pundits have further fueled concerns, predicting a continuing dip in the asset’s value. Some have even predicted the crypto to retest the $4,000 mark or even a further dip, which has weighed on the market sentiment.
Ethereum Price Slips After Fed Chair Jerome Powell Speech
The broader market crypto selloff has triggered a slump of over 3% in ETH price today. During writing, Ethereum price traded at $4,360, and its one-day volume fell more than 10% to $45 billion.
However, despite the current slump, the monthly chart was still in the green, showing a gain of about 1.2%. Notably, the crypto has touched a 24‑hour high and low of $4,556 and $4,324, respectively.
Meanwhile, the market was already bracing for volatility in major cryptocurrencies like Bitcoin and Ethereum, and Powell’s comments did little to alleviate concerns.
Despite the US government shutdown boosting gains in riskier assets like digital currencies, investors were seeking clarity on the Fed’s monetary policy stance.
With key economic data delayed due to the shutdown, Powell’s speech heightened anxiety about the central bank’s next move. As a result, Ethereum price slipped sharply, reflecting broader market jitters.
In other words, the uncertainty surrounding rate cuts and economic data has added to the market’s volatility.
Ethereum News: Ethereum ETF Momentum Cools
In other Ethereum news, the cooling institutional interest has also weighed on traders’ sentiment.
According to Farside Investors’ data, the US Spot Ethereum ETF has recorded an inflow of only $69 million on October 8, with only BlackRock ETHA witnessing an influx of $148.9 million.
This reflects the waning interest of the institutions, especially after the robust inflow over the past few days.
On October 7, the inflow into the investment instrument totaled $420.9 million, following an influx of $181.8 million in the prior day.
According to a flurry of market pundits, this might have also weighed on the traders’ sentiment. So, here we explore the latest Ethereum price predictions, where analysts are expecting a dip to $4,000 or even further.
Analyst Warns of More Ethereum Price Dip
Amid the dip in Ethereum price, analyst Lennaert Snyder said that ETH price is likely to slip to $4,200 amid the continuing selling pressure.
However, if it manages to turn the resistance at $4,400 into support, it could continue its upward momentum ahead.
Echoing a similar sentiment, market expert Ted said that the second‑largest crypto by market cap may slip to $4,250. Besides, his chart suggests that failing to find support at $4,250 could trigger another dump to near $4,000.
However, analyst Donald Dean remains bullish on the long‑term potential of Ethereum price. Dean noted that if ETH price can break through the $4,955 level, the next target would be at $5,706.
Having said that, investors are now advised to look at the potential fund flow into the US Spot Ethereum ETF.
If the investment instrument continues to witness a robust flow again, it could trigger a massive rebound in the asset’s price, potentially sending it to a new all‑time high.