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Ethereum tumbles over 6% amid weak risk appetite
AI Summary
- Ethereum fell over 6% amid weak risk appetite despite strong US economic data
- US GDP grew by 3.8% year-on-year in the second quarter of 2025, while initial jobless claims declined to 218,000
- Kansas City Fed President Jeffrey Schmid stated that the recent rate cut was necessary to maintain a healthy labor market, despite inflationary risks.
Ethereum fell on Thursday as risk appetite weakened despite the release of strong US economic data.
Final data showed that US GDP grew by 3.8% year-on-year in the second quarter of 2025, compared with a 0.6% contraction in the first quarter.
Labor Department figures released Thursday revealed that initial US jobless claims declined by 14,000 to 218,000 in the week ending September 20, the lowest level since mid-July, while expectations had been for a rise to 233,000.
Kansas City Fed President Jeffrey Schmid said that last week’s 25-basis-point rate cut was necessary to ensure the labor market remains in good shape, despite persistent inflationary risks.
Ethereum
By 21:29 GMT, Ethereum was down 6.1% at $3,907.7 on CoinMarketCap.
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