Odaily News Bifinex analysts said that the ETH downtrend was driven by trade war concerns caused by global uncertainty caused by US import tariffs and a lack of builder activity on the Ethereum network, explaining: "For ETH, $1,800 will be a strong level to watch, however, the current sell-off is not unique to ETH, we are also seeing a correction across the market as concerns about the impact of tariffs hit all risk assets."
Stella Zlatareva, an analyst at digital asset investment platform Nexo, said that Ethereum's challenges have been further exacerbated, and continued outflows from Ethereum ETFs have limited the asset's price recovery, adding: "ETH fell 20% last week, causing its price to fall below the key $2,200 trendline that has supported its bull market recovery since 2022. As with Bitcoin, the mild price action can be attributed to ETF outflows." (Cointelegraph)