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Ethereum Drops as ECB Rate Hike and Surging Yields Spark Crypto Selloff

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The Story

News Summary

  • Cryptocurrencies plunged as the European Central Bank raised interest rates, U.S.
  • producer prices accelerated, and crude oil prices surged.
  • Rising Treasury yields and expectations of further Federal Reserve monetary tightening spurred risk-off sentiment across digital assets, pushing Ethereum down over 2% despite positive spot ETF inflows.
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BRENT price history

107.19 +67.14% over the displayed period

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