Overview
- Following Wednesday's Federal Reserve rate decision, which left the target range at 3.50%–3.75%, investors grew cautious and kept fresh buying of risk assets limited.
- Ethereum has defended short-term support around $1,900 but repeatedly failed to clear the $1,950–$2,000 supply band because of a reported $36 million cluster of sell orders near $1,975–$2,000.
- US spot Ethereum ETF data for the July 29 session are inconsistent across providers, with one report showing about $14.5 million in inflows and another showing roughly $18.7 million in outflows, leaving institutional demand unclear.
- Derivative activity magnified intraday moves as short liquidations of around $37.7 million forced buybacks that helped bounces, while on-chain factors such as roughly 30% of ETH being staked keep available liquid supply tighter.
- Geopolitical tensions, higher Treasury yields and a delay to the CLARITY Act have removed policy and macro catalysts, making a decisive breakout above $2,000 unlikely without clearer ETF demand or softer US inflation signals.