CoinEx Daily: Ethereum Withdrawals Spike and Market Sentiment Cools amid Fed Rate Cut Uncertainty

Daily View

The crypto market is entering a consolidation phase as Ethereum faces key resistance around $4,500 and on-chain data signals a large ETH withdrawal queue, indicating potential profit-taking and reduced bullish conviction. Macro uncertainty persists, with attention shifting to this week's US Federal Reserve meeting where internal divisions about potential rate cuts could influence risk appetite. Overall, cautious sentiment prevails as recent rallies stall and both Bitcoin and Ethereum markets digest significant ETF and institutional developments.