Why can’t Ethereum hold $4K? ETH recovery in doubt as data leans bearish

Ethereum price wobbled as weak onchain activity and low futures demand supported a potential ETH price drop to $3,500.

Key takeaways:

Ether consolidated around $4,000 as the lack of futures demand and weak ETF flows suggest the absence of bullishness. 

Declining Ethereum network fees and activity suggest lower onchain demand.

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