🎢 Ether (ETH) traders, buckle up! ETH price took a roller-coaster ride, nearly hitting $3,500 on June 11, only to see $90M in leveraged longs liquidated within 48 hours. 😱 Blame it on the U.S. central bank's revised outlook and rising U.S. jobless claims.

The Fed's interest rate projections and a surge in new unemployment benefits have left Ether investors feeling bearish. But hey, every cloud has a silver lining, right? Weak macroeconomic indicators could push the Fed to consider interest rate cuts, potentially making risk-on assets like Ether more attractive.

However, the lack of a U.S. spot Ether ETF and a delay in approval for Ether ETFs filings are adding to investor caution. The Ether perpetual funding rate has also stabilized, indicating a neutral sentiment.

So, what's your take on this? Will ETH break the $3,700 mark in the near term or not? Share your thoughts below! 👇 #ETH #CryptoNews