Ethereum price drifted lower on Wednesday as its correlation with the Dow Jones and the Nasdaq 100 indices continued. The coin dropped to a low of $1,964, which was its lowest level this week. It was a sea of red as other cryptocurrency prices nosedived. Don’t fight the Fed ETH price declined sharply as volatility in the market continued. The closely-watched CBOE volatility index rose by more than 5%. There were several catalysts for this volatility. First, investors were reacting to the statement by Jerome Powell on Wednesday during an event sponsored by Wall Street Journal. In it, he reiterated that inflation was the biggest challenge facing the economy. He then reiterated that the Fed would do whatever it could to push inflation towards its target of 2.0%. Therefore, investors believe that this means that the bank will not come to its rescue like it did in 2018 and during the Covid pandemic. As such, it will continue hiking interest rates by 0.50% in the remaining meeting...