Traders are increasingly bearish on Ethereum as observed by low buy activity and growing short positions. However, over $1.6 billion in stablecoins have flowed into ETH recently, indicating substantial market demand.
Ethereum’s current price consolidation at $4,470-$4,500 raises concerns about a potential sharp move. Analysts suggest a 25% correction could occur, leading prices to $3,700-$3,800, before a possible recovery towards $10,000.
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