Ethereum Market Shows Volatility After FOMC Remarks

Following Fed Chair Jerome Powell’s comments at the FOMC meeting last Friday, Ethereum price experienced a full retracement and saw renewed volatility in the market. The retreat signifies shifting market dynamics with institutional activity and heightened trading activity. 3.7:1 long/short ratio on ETH, high open interest, and lower gas fees on Layer-2 networks indicate increased investor confidence in ETH’s potential despite the price retracement.