Ethereum’s price could face downward pressure as on-chain metrics and derivatives market data signal a potential bearish trend. Recent activity reveals declining interest among investors, with reduced volumes on major platforms and an uptick in short positions suggesting cautious sentiment around ETH’s near-term prospects.
The derivatives market shows increasing open interest in put options, pointing to hedging behavior among traders. Coupled with lower wallet activity and subdued transaction volumes, this hints at waning confidence in Ethereum’s ability to sustain current price levels. While macroeconomic factors could also play a role, the data aligns with a cautious outlook for the cryptocurrency.
