Fundstrat's Tom Lee Attributes ETH Sell Pressure to Oil Price Spike Amid War

ETH-0.14%
According to ChainCatcher, analyst Tom Lee attributed Ethereum's current sell pressure primarily to rising oil prices, citing the recently published Federal Reserve April minutes. Lee noted that ETH exhibits a historic high negative correlation with oil prices; higher crude costs inflate expectations and increase Fed rate hike probability, tightening liquidity and weighing on crypto assets. Since the Iran war began, oil volatility has synchronized with 2026 Fed rate expectations, Lee said; resolution could directly ease ETH's macroeconomic headwinds.
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