Today in crypto, Ethereum’s struggles continue as analysts predict Ether’s price could be set to drop even further as exchange-traded fund (ETF) outflows and macroeconomic fears continue to mount, Mt. Gox made its second Bitcoin move in a week, and cyberattackers target Elon Musk’s X.
Ether risks correction to $1,800 as ETF outflows, tariff fears continue
Ether is struggling to reverse a near three-month downtrend as macroeconomic concerns and continued selling pressure from US Ether exchange-traded funds (ETFs) weigh on investor sentiment.
Ether (ETH) has fallen by more than 53% since it began its downtrend on Dec. 16, 2024, after it had peaked above $4,100, TradingView data shows.
The downtrend has been fueled by global uncertainty around US import tariffs triggering trade war concerns and a lack of builder activity on the Ethereum network,