Ether (ETH) is currently experiencing levels not seen since November 2023 due to the ongoing volatility caused by U.S. President Donald Trump’s trade war threat. In the past 24 hours, ETH has dropped by 15%, as reported by CoinDesk Indices data, leading to a 16% decline in the CoinDesk 20, which measures the performance of the largest digital assets.
The recent decline in Ether can be attributed to bearish investor sentiment, which has resulted in its underperformance compared to BTC and a lack of institutional demand. Additionally, macro factors such as trade war fears, inflation concerns, and weakness in the stock market have contributed to a decrease in risk appetite.
According to CoinGlass data, approximately $165 million worth of ETH long positions have been liquidated within the last 12 hours. Meanwhile, bettors on Polymarket are giving a 76% chance of Ether reaching $1900 by the end of the month.
In terms of ETF activity, Ether ETF outflows were significantly negative last week, totaling -$335 million, according to data from SoSoValue.
Overall, the current market conditions for Ether are highly volatile, influenced by various factors including geopolitical tensions and investor sentiment. Traders and investors should closely monitor these developments to make informed decisions about their ETH holdings.
