Why is Ethereum (ETH) price down today? By Cointelegraph

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Ethereum’s native token Ether (ETH) is down almost 7% today due to a mix of fundamental and technical factors.

On June 15, the price of Ether dropped 1.7% to around $1,620, its lowest level in three months. The ETH price intraday decline came as a part of a broader weekly downtrend accelerated by the Federal Reserve’s hawkish tone a day ago.

daily price chart. Source: TradingView
Crypto market’s liquidation heatmap. Source: Coinglas
ETH/USD daily price chart. Source: TradingView
ETH/USD weekly price chart. Source: TradingView