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Ethereum dips to $2,438 amid strong US jobs data and major holder selling $408M in ETH.

Market News
05 Sep 2026
Blockonomi
View Source
Bearish
Ethereum dips to $2,438 amid strong US jobs data and major holder selling $408M in ETH.

Ethereum's price fell from $2,546 to around $2,438 following stronger-than-expected US August jobs data, which raised Federal Reserve rate hike odds to 60%. A major holder liquidated 167,855 ETH worth about $408 million over five days, adding bearish pressure. Despite the pullback, Ethereum remains above key moving averages and shows signs of potential bullish consolidation. Institutional demand remains strong with $148 million inflows into Ethereum ETFs on Thursday, totaling $1.85 billion in August, suggesting continued investor interest ahead.

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