Ethereum fell nearly 4% over 24 hours to about $2,420 as Brent crude moved above $105 a barrel, WTI surpassed $100 and U.S. 10-year Treasury yields approached 4.9%. August Producer Price Index (PPI), a measure of wholesale inflation, rose 0.4% monthly and accelerated to 5.4% annually from 4.8%, lifting expectations for tighter Federal Reserve policy. Polymarket data put the chance of a rate increase at the Fed’s September 15–16 meeting at 62%, rising to 71% by October. Despite the decline, U.S. spot Ethereum ETFs drew $34.75 million on Wednesday, led by BlackRock’s staking-enabled ETHB with $22.94 million and ETHA with $9.71 million. ETH is testing its 20-day exponential moving average (EMA), a trend indicator, near $2,404, with $2,400–$2,405 as the key support zone. A daily close below $2,400 would put $2,350–$2,360, then $2,300 and the 50-day EMA near $2,222, in focus. Ethereum had gained about 37% over 10 days before the correction and reached a cycle high of $2,564.