Analysis of Ethereum Price Predictions

As of August 6, in the last 30 days, ETH's price plunged 15.5%, hovering around $2,600. This is reminiscent of the plunge that happened in April 2022 following the start of the Fed’s interest rate hiking cycle. This time, the Fed fund futures price in three rate cuts by the end of 2024, with the first one in September with an 82.7% probability. Depending on the severity of the need to stimulate the economy with rate cuts, this could be either a tailwind or a headwind. 

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