#SaylorBTCPurchase

Ethereum bulls target $1,800

Ethereum experienced some recovery earlier in April, but since mid-month, the coin has struggled at the $1,600 level. The largest altcoin faces challenges due to selling from major investors and a decline in usage activity, making it unable to replicate Bitcoin's positive momentum.

Institutional selling pressures the digital currency

The recent poor performance of Ethereum prices is largely attributed to the actions of major investors. Reports have revealed that three key entities, including Galaxy Digital, the Ethereum Foundation, and Paradigm, have transferred 72,100 Ethereum to exchange platforms.

These moves indicate that selling pressure may be increasing among large institutions, causing discomfort among traders. Additionally, unfavorable on-chain data contributes as another negative factor affecting Ethereum's value.$ETH