ETH more likely to hit $1.5K than $3K, Myriad data shows

Users on the decentralized prediction market platform Myriad are increasingly weighing the possibility of a short-term decline for ETH. The market currently sees a drop to $1,500 as more likely than a rebound to $3,000, with the probability of bets on a $1,500 price point rising by over 13% in the past week to 63%. ETH is currently trading around $2,000. This sentiment comes as spot ETH ETFs have experienced 11 consecutive days of outflows, with approximately $500 million withdrawn during that period. Meanwhile, Ryan Rasmussen, Head of Research at Bitwise, commented that while the crypto market is in a "bear market phase," institutions are still continuing to build Ethereum-based infrastructure.