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Ethereum (ETH) fell by nearly 4% over the past 24 hours following a 25 basis point interest rate hike by the European Central Bank (ECB).
The move, while widely anticipated, triggered a sell-off amid persistent inflation in developed economies and rising oil prices, which recently surpassed $100 as U.S.
military actions against Iran escalated tensions in the Middle East.
The ECB's Governing Council described the outlook as highly uncertain in a press release, noting risks to the upside for inflation and to the downside for economic growth.
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