Ethereum price faces $2,000 test as oil surge revives rate fears 
Ethereum price has remained trapped below $2,000 as rising oil prices, renewed interest-rate concerns and BitMEX’s planned shutdown have tempered bullish sentiment despite continued spot ETF inflows. According to data from cryptonews, Ethereum price traded near $1,927 on July 23 after reaching an intraday high of $1,941. The token has recovered more than 27% from its June low near $1,514, but repeated failures around $1,955 have kept the psychological $2,000 level beyond buyers’ reach.
Rate traders have already adjusted their positions. The probability of a September Fed hike rose to 79% from 68% per data from the CME FedWatch tool. Expectations for the July meeting remain centered on no change, but another oil-led inflation increase could lift Treasury yields and pressure risk assets such as Ethereum. 
U.S. equities also weakened after Alphabet raised its 2026 capital-spending forecast to between $195 billion and $205 billion. The company recorded negative free cash flow of $5.9 billion as quarterly expenditure doubled to $44.9 billion, while its shares fell in premarket trading.
