Why Ethereum Is Moving Lower Today
Ethereum (CRYPTO: ETH) is falling on Friday, down 5% in the last 24 hours as of 5:36 p.m. ET. The slide comes as the S 500 gained 0.9% and the Nasdaq Composite rose 0.8%.
The cryptocurrency is falling once again as part of a weeks-long decline for the crypto market as a whole. Despite growing hope that the Federal Reserve will cut interest rates further, investors remain cautious about riskier assets, like crypto.
An influential member of the Federal Open Market Committee (FOMC) -- the body responsible for setting the federal funds interest rate -- indicated the Fed will opt for another rate cut in December, but it wasn't enough to reverse Ethereum's steady decline.
Source Fool.com
