Ethereum Price Plunges: Traders Cautiously Optimistic Amid Economic Uncertainty

Ethereum (ETH) prices recently experienced a steep decline, dropping to $2,625, its lowest point since July. This drop, attributed to reduced bullish leverage and waning retail demand, follows a 15% slide over just two days. Despite this notable downturn, some institutional traders remain cautiously optimistic about the future of Ethereum. Their confidence is reflected in increased long positions on ETH derivatives, indicating an anticipation of a potential recovery.