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Why is the price of ETH bearish despite Ethereum ETFs attracting billions?
The price of Ethereum (ETH) has declined despite significant inflows into ETFs. While the capital inflow into Ethereum ETFs has reached 2.5 billion dollars, the price of this currency has not yet crossed the 4,000 dollar mark. According to market data, today the price of Ethereum fell by more than 5% and reached $3816. This price drop occurred after the price of Bitcoin fell below $104,000. On the other hand, the ongoing sale of Ethereum Foundation assets has also contributed to intensifying the negative sentiment in the market. Since the beginning of 2024, the Ethereum Foundation has sold about 4,466 Ethereum worth $12.62 million to fund the development of its ecosystem.

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