Ethereum slips below $2,400 as oil surges, ETF outflows mount
- —ETH briefly dropped below $2,400, down 1% on the day
- —Brent crude rose 3.6% to $109.7, the highest since May
- —ETH exchange reserves climbed by 290K coins over three weeks
- —US spot ETH ETFs posted $60.2M in net outflows, 12 of 13 days negative
Why it matters: Rising oil and a hot 6.3% PPI weigh on risk assets; ETH may test support at $2,355 and its 100-day EMA.
Source: FXStreet Crypto