Why Ethereum’s post-FOMC move could push ETH past $4K
Main Idea
Ethereum (ETH) shows relative strength post-FOMC, with potential to surpass $4K as smart money activity and market rotation signal bullish momentum.
Key Points
1. Ethereum dominance (ETH.D) climbed nearly 3% despite Bitcoin dominance (BTC.D) bouncing off a key support zone, indicating relative strength and possible market rotation.
2. ETH has followed a post-FOMC pattern, with significant rallies after May (40%) and June (50%) meetings, now flagging just under $3,900 after July's FOMC.
3. Fresh whale wallets acquired 73,821 ETH, suggesting aggressive spot bids and smart money activity, supporting the bullish case for ETH.
4. ETH/BTC broke above the 0.03 handle, further indicating rotation from Bitcoin to Ethereum in the market.
5. The Federal Reserve maintained a hawkish tone, reducing odds of a September rate cut, which may influence ETH's price movement.
Description
ETH's post-FOMC playbook is in motion. Is the storm about to break?
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