Ethereum's price movement today has been relatively stable, with minimal fluctuations. The cryptocurrency market has been reacting to broader macroeconomic factors, particularly the release of U.S. employment data, which has influenced investor sentiment across the board. The stronger-than-expected employment figures have led to speculation about the Federal Reserve's future interest rate decisions, causing some uncertainty in the market. This has contributed to a cautious approach among investors, impacting Ethereum's price stability.
Additionally, Ethereum has been facing challenges due to recent outflows from Ethereum spot exchange-traded funds (ETFs). These outflows have been significant, with $159 million leaving the funds on Wednesday, following $86 million the previous day. Despite these outflows, Ethereum ETFs have seen a net inflow of $2.5 billion since their approval in 2024, indicating ongoing interest in the asset. The increase in exchange balances, with more ETH being held on exchanges, suggests that investors might be liquidating their holdings, adding to the pressure on Ethereum's price.
Ethereum's price today is $3,265.53, reflecting a slight decrease of 0.02% from the previous day. The price has remained within a narrow range, with a high of $3,268.82 and a low of $3,265.53.