Similar to Bitcoin, which is down around 41.5% from its highs, Ethereum (ETH-USD) is down 38% from its all-time high. On the date of publication, Thomas Niel held long positions in Bitcoin and Ethereum. During this timeframe, as the U.S. Federal Reserve (Fed) has gone from writing off inflation as “transitory,” to taking serious action to tame it via rate hikes, investors have been cycling out of risk-on plays.