Derivatives data favors Ethereum bulls even after this week’s plunge below $ 3,000
The price of Ether (ETH) has been in a downtrend since early September, and this week’s Evergrande-led market crash pushed the price below $ 2,700 on September 20, its lowest level in 47 days. . Interestingly, just three weeks ago, Ether was testing the $ 4,000 psychological barrier, but this changed after growing concerns about crypto regulation intensified and fears that China’s debt markets would trigger a global sell-off. .
This week, the chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, spoke to the Washington Post about renewed plans to regulate the cryptocurrency sector and the growing market for cryptocurrencies.
- Ripio launched an official token called Ripio Coin
Ether’s negative price trend reversed on September 22 after US Federal Reserve Chairman Jerome Powell confirmed the continuation of the central bank’s monthly bond buying program. Powell also made it clear that an interest rate hike should not be expected in 2021.
Read the full article on Cointelegraph
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