Ethereum Prices: Bottoming Out but Pro Traders Show Little Interest

Ethereum (ETH) has experienced a 6.4% price surge since its March 30 low of $1,768. Despite this rebound, the cryptocurrency has struggled to regain the $2,000 mark. Some analysts suggest that this downturn is partly linked to the deflationary trends within the memecoin market, which led to decreased activity across decentralized applications (DApps) and the broader crypto landscape. Ethereum’s year-to-date price decline stands at 44%, reflecting a lack of bullish sentiment among traders, as indicated by derivatives metrics. The Ether futures premium relative to spot markets remains subdued, hovering near neutral levels despite some recent growth.