Ethereum Criticism on the Rise: Could Staking Be a Way Out as the Bear Market Deepens?
Ethereum (ETH) continues to maintain its downward trend over the past three months. The ETH/USD pair has declined by 1.6% in the last day, falling below the psychological support level of $1,900.
The situation shows that Ethereum has lost approximately 53% of its value since reaching its peak of $4,100 in December 2024.
The overall negativity in the market and concerns stemming from global economic uncertainties are further increasing the selling pressure on Ethereum. Whether it can maintain a position below the critical level of $1,900 will be decisive for the market.
Outflows from Ethereum ETFs are Deepening the Selling Pressure
Another factor deepening the downward pressure on Ethereum has been the outflows seen in US-based Ethereum spot ETFs.
According to data shared by Sosovalue, the outflows over the past four weeks have surpassed $119 million. This development indicates a significant decline in institutional investors' interest in Ethereum.
However, despite the negative atmosphere in the market, some experts maintain their optimistic views on Ethereum's long-term potential.
For instance, investment firm VanEck sees it possible for Ethereum to rise to $6,000 within 2025. Nevertheless, it is anticipated that if the outflows from ETFs continue in the short term, the price of Ethereum may continue to be suppressed.