For the first time since April 1, Ethereum (ETH) is seeing renewed market participants in the U.S. This development comes after Ethereum’s (ETH) price has corrected by 50% within the last 90 days.
Amid the decline, ETH plunged below $1,500, with some analysts calling for a lower value. But as of this writing, the cryptocurrency’s price has bounced and is trading close to $1,600.
With buying momentum building up, does this mean ETH’s price will erase more of its gains? Let’s find out.
U.S. Risk Appetite for ETH Rises
For a large part of the month, U.S.-based market participants have been offloading ETH, as reflected by the declining Coinbase Premium Gap, a metric that measures the difference between ETH’s price on Coinbase and global exchanges.
A negative or falling premium indicates heightened selling pressure from American investors. However, with U.S. President Donald Trump placing a 90-day pause on the controversial tariffs, risk appetite appears to be returning.
