Analysis points to 3 factors behind Ethereum's price decline

Cointelegraph has analyzed the reasons behind the recent decline in Ethereum's price, identifying three key factors. First, a lack of demand in the futures market is evident, with the futures premium falling below 5%, which suggests traders have low expectations for a price increase. Second, long-term holders have been selling, with their holdings decreasing by 847,222 ETH over the past 30 days—the largest drop since January 2021. Finally, network activity has diminished, reflected by a 45% decrease in network fees over the same 30-day period.