ETH whales uneasy as onchain, derivatives data reduce chance for rally to $4K

ETH investor sentiment wavers as onchain activity and bearish derivatives positioning leave whales unconvinced, reducing the odds for a rally to $4,000.

Key takeaways:

ETH derivatives exhibit a fading bullish appetite as Ethereum’s TVL declines and network fees decrease, reinforcing persistent risk aversion.

US job layoffs climb, and seasonal hiring weakens, leaving traders waiting for fresh liquidity before rebuilding confidence in ETH’s near-term upside.

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