ETHA is trading 3.3% down today as hotter-than-expected April CPI data at 3.8% YoY dampens Fed rate cut expectations and pressures the broader crypto market.
- Geopolitical instability in the Middle East and oil prices surging above $104/barrel are driving a global risk-off move.
- Broader equity markets are also under pressure, with the Nasdaq sliding 1.18% as investors remain cautious ahead of further inflation data.