Ethereum price faces $2,000 test as oil surge revives rate fears

Ethereum price has remained trapped below $2,000 as rising oil prices, renewed interest-rate concerns and BitMEX’s planned shutdown have tempered bullish sentiment despite continued spot ETF inflows. Summary Ethereum price remains below $2,000 as higher oil prices revive Federal Reserve rate-hike concerns. Spot ETF inflows and positive capital flows continue to support ETH above $1,900. A break above $1,955 could target $2,030, while losing $1,860 would weaken the recovery. According to data from crypto.news, Ethereum (ETH) price traded near $1,927 on July 23 after reaching an intraday high of $1,941. The token has recovered more than 27% from its June low near $1,514, but repeated failures around $1,955 have kept the psychological $2,000 level beyond buyers’ reach. Oil supplied the latest macro pressure as Middle East tensions pushed crude prices higher for a fifth consecutive session. West Texas Intermediate rose above $90 a barrel after attacks by Iran-aligned Houthis on Saudi oil tankers raised concerns about regional supplies. Higher energy costs could feed inflation and reduce the Federal Reserve’s room to keep monetary policy unchanged. Rate traders have already adjusted the...