Ethereum (ETH) fell over 5% after the Federal Reserve's second consecutive interest rate cut, setting the benchmark rate at 3.75–4%. Despite the rate reduction, traders remain cautious due to Fed Chair Jerome Powell's guarded comments and ongoing uncertainty about future monetary policy. The upcoming end of quantitative tightening on December 1 is anticipated to add liquidity to the market, but concerns persist due to weak employment data and ongoing inflation. Ethereum has broken below key support levels, with the $3,500 mark now a critical area of focus. Market participants are closely monitoring further Fed signals and potential rebounds contingent on improved inflation data.