Ethereum (ETH) prices have been stuck between $2,300 and $2,800 since the beginning of August. They haven’t been able to break through the $2,600 mark. As of three days ago, experts and investors were worried that ETH would not be able to go above $2,600.
This is especially true when you look at how well Bitcoin has done this year.Data from Farside Investors shows that people are becoming less interested in Ethereum ETFs, which makes them even less confident about ETH. People are worried about Ethereum’s future as a whole because the market is still not sure if it can go up.
Ethereum ETFs Lose Interest
This drop in interest in ETFs shows that. In the next few days, we’ll see if Ethereum can get back on track or if it keeps falling behind its peers. People were excited when Ethereum ETFs first came out, but it didn’t take long for some to “sell the news.”
According to Farside Investors, Ethereum ETFs haven’t done well since they first came out, as almost no money has come in or gone out. People were very excited before the start, but now they don’t seem to care much.
Using data from Bloomberg, Galaxy Research showed that ETH ETFs are selling for a lot less than Bitcoin ETFs. This difference stands out when you look at how much ETH/BTC is traded and how much the market is worth on centralized platforms. People aren’t as interested in these ETFs as they are in Bitcoin ETFs, even though Ethereum is a strong market player.
People are more interested in Bitcoin and other choices like Solana than they are in ETH . When you look at the market as a whole, ETH ETFs don’t get people excited. Bitcoin is still the winner. Since the market is getting tougher, this makes me wonder if ETH ETFs will still be popular in the future.
Ethereum’s price is $2,522 right now, which is still less than the $2,600 mark that held strong all through August. Prices might drop even more if $2,600 moves from being a support level to a resistance level. To get back in charge, bulls need to break above $2,600 for ETH. The next target is $2,820. Prices might keep going down if they don’t. Behind it is a strong level of support at $2,310.
