Ethereum (ETH) has been facing significant challenges recently. Over the past few days, approximately $258 million worth of ETH was sold off, contributing to a continued price drop. ETH is currently trading around $2,299, marking a sharp decline from earlier in
Several factors are contributing to Ethereum's struggles. First, there has been a noticeable decline in daily active addresses on the Ethereum network, reflecting reduced activity. Additionally, Ethereum ETFs have experienced significant outflows, with a cumulative total of $582 million exiting over recent months. These trends indicate investor concerns, especially as Bitcoin ETFs, by contrast, have attracted significant inflows
Moreover, Ethereum's performance relative to Bitcoin has hit a three-year low, with ETH underperforming since its 2022 Merge upgrade. This has raised concerns about Ethereum’s future momentum, as the ETH/BTC ratio continues to fall, which could further delay an altcoin market rally
Ethereum's next potential price movements hinge on fundamental shifts in the market and renewed investor confidence. Some analysts expect a potential rebound in 2025, but the immediate outlook remains cautious.
