Ethereum price Drops Below $2,700 as US Jobs Data Hits Rate-Cut Hopes

Summary

Ethereum fell below $2,700 as US jobs data dampened hopes for an imminent rate cut, with the broader crypto market slipping and major ETFs seeing persistent outflows. Bitcoin remained under pressure near $83,000, while investors weighed Nvidia’s earnings prospects and equities’ weakness against continued crypto declines.

Market Snapshot

Ethereum price slipped under $2,700 amid softer-than-expected US job data, eroding expectations for a near-term Federal Reserve rate cut. This contributed to a broader sector decline of around 10% in the last 24 hours and a 15% drop for the week. The ETH price stood around $2,794 at market close, reflecting a roughly 7–10% pullback depending on the exact moment measured.

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Ethereum price has dropped below $2,700 as recent US jobs data weakens hopes for an interest rate cut. The wider crypto sector has fallen 10% in the last 24 hours, and the week has fallen 15%. Ether has dropped by 10%, and it is still in a bear market. There have been over $2 billion in liquidations leading to cascading margin calls. Bitcoin is also not doing very well, continuing around $83,000 with the same percentage of loss. The crypto market is under further pressure as Nvidia’s income prospects are diminishing, and equities are negative. Moreover, both ETFs track Bitcoin and Ethereum have registered four days of outflows in a row, continuing the fall in the market.

Key Data Points

Bitcoin (BTC) around $83,648; ETH around $2,794; notable declines in both assets.
Two leading Bitcoin and Ethereum ETFs recorded four consecutive days of outflows.
Ethereum and broader market sentiment influenced by Nvidia earnings expectations and equity weakness.

Context: US Jobs Data

US payrolls data showed mixed signals, with July employment readings contributing to the narrative around the Federal Reserve’s rate decisions. An important backdrop for crypto markets is the interpretation of labor data and the implications for rate cuts and liquidity. The narrative suggests that softer data reduces near-term rate-cut prospects, pressuring risk assets including crypto.

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Technical and Sentiment Notes

Ether remains in a bear market amid ongoing volatility and liquidations, reflecting risk-off conditions in crypto markets.
ETFs tracking BTC and ETH have experienced continued outflows, signaling sustained investor repositioning.
Overall sentiment dips as Nvidia’s earnings outlook fades and broader equities retreat.

Author’s Take (summary)

Crypto traders should brace for ongoing volatility as US rate-cut expectations waver and ETF outflows persist, with Ethereum’s price likely to drift in tandem with broader macro cues and tech earnings momentum.

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Coingape — 2025-11-21