On April 7, Ethereum (ETH) reached a low of 1,410 USD, its lowest point since March 2023, resulting in over 370 million USD in liquidations. Despite a 14% underperformance compared to the crypto market, pro traders maintain a cautious optimism.
Concerns over global trade tensions and the Federal Reserve’s interest rate policies continue to affect investor sentiment. The delayed Pectra upgrade, now set for May 7, adds further pressure, while the monetary landscape remains challenging.
The total value locked (TVL) in Ethereum hit an all-time high of 30.2 million ETH, showing resilience despite market pressures. While derivatives data suggests bearish sentiment, there is no widespread panic among traders, indicating potential limitations to ETH’s price decline.
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