The price of Ethereum ETH has seen a decline of 61% in its market value over the past four months, which has been reflected in the behavior of traders who preferred to wait amid a state of global economic uncertainty.

Increased sensitivity to news about the economy and customs policies, along with some traders shifting to alternative currencies like Ripple and Cardano, has deepened the weakness in momentum around Ethereum.

Despite the significant decline in Ethereum fees, it cannot be concluded that the market has reached a price bottom. However, historical indicators call for attention, as the network may be in a breather phase before a new surge.

As always in the cryptocurrency markets, major movements often come when the noise subsides.