Ethereum Nosedives: What's Happening?

Ethereum's price plummeted over 5% to under $2,400, echoing a broader crypto market dip driven by the U.S. credit rating downgrade from Aaa to Aa1 by Moody's. This move, the first since 1919, amplified economic fears, elevating Treasury yields and sparking a flight from risky assets, including crypto. Massive ETH liquidation, with $255 million wiped out, worsened the downturn. Long positions liquidated rapidly, cascading sell-offs. Analysts view this dip as a potential buy-low opportunity, albeit risky in a volatile market facing uncertainty.