Summary
Ethereum (ETH) was US$2496.53, up 1.63% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Ethereum is up 1.62% to $2,471.39 in 24h, closely tracking a broader market recovery. It shows a strong correlation (71% with the S&P 500 and 70% with Gold) over 24h, indicating a macro-driven move. The rise is primarily driven by a relief rally across crypto assets following the Federal Reserve's widely anticipated rate hike. 1. **Primary reason:** Broader market beta lift as Bitcoin and total crypto market cap rose, with the Fed hike largely priced in. 2. **Secondary reasons:** A cascade of short liquidations, with $98.43M in ETH positions liquidated in 24h, amplifying the upward move. 3. **Near-term market outlook:** If ETH holds above $2,400 support, it could test resistance at $2,550–$2,600; a break below risks a drop toward $2,356. Watch for the next Fed signal and ETF flow reversals.