Last week, Ethereum's price action was marked by volatility, repeatedly dipping below and rising above the $2000 mark. Weak demand and uncertainty were prevalent, despite an eventual slight increase.
ETH Price Fluctuations
Last week, ETH prices fluctuated around the $2000 mark multiple times. Despite an overall gain of 7.54%, demand remained weak and price movements were unstable.
Exchange Flows and Demand
In the midst of instability, ETH exchange flows dropped to their lowest level this year. The last occurrence of such low flows was in early November last year.
Whale Activity and ETF Outflows
One factor contributing to uncertainty is negative ETF outflows since March 5. The market also saw a decrease in whale activity, impacting investor sentiment.
It remains unclear if Ethereum can recover from the downturn, given the declining interest from institutional investors and whales. The cryptocurrency's future remains uncertain.
