Ethereum draws $1B in buy volume despite Hawkish Fed hold

Ethereum-draws-1B-in-buy-volume-despite-Hawkish-Fed-hold

Ethereum is still trading within a range structure. 
Despite a rebound that pushed it above $2,450, ETH is now facing a correction of roughly 10%.

The move below the $2,300 zone today nonetheless reignited interest among traders.

Within just one hour, Taker Buy Volume surged above $1B on Binance. A similar reaction was also seen on OKX, where nearly $20M in buying flows were recorded over the same period.

This suggests that at these price levels, some investors aggressively stepped in on the long side, looking to take advantage of the pullback.

This move came even as the Fed had just announced that it would keep interest rates unchanged within the 3.5% to 3.75% range. The institution also indicated that short term inflation could move higher again, notably due to rising energy prices.

Despite this relatively hawkish tone, some market participants still appear willing to bet on a more constructive short term outlook for Ethereum.