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Ethereum price dragged down below $2K as US inflation hits highest level since 1991 The second-largest cryptocurrency sells off in line with Bitcoin as traders assess the latest U.S. inflation data. 16298 Total views Altcoin Watch Ether (ETH) perhaps had the most bullish outlook entering the July session, with a key technical update dubbed EIP-1559, promising to make its native token ETH scarcer through the network s first-ever burning mechanism. But so far into the month, the second-largest cryptocurrency by market cap has vastly tailed its top rival Bitcoin. The positive correlation was visible on July 13, following the New York opening bell, when Ether plunged below $2,000 to hit its two-week low in sync with Bitcoin, which slipped slipping below $32,500.

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