Will Ethereum (ETH) Continue its Bearish Trend? Unraveling the Future of ETH Price in the Current Bull Cycle

• The Ethereum price has extended below $3,100 due to weak network fundamentals and significant offloading by FTX and crypto hackers.
• Despite Ethereum’s pivotal role in facilitating DApps and the NFT market, its weak fundamentals have become a cause for concern.
• FTX, the bankrupt crypto exchange, has offloaded over $12 million worth of Ethereum, while crypto hackers are leveraging Tornado Cash to get rid of the stolen ETH funds.

As Ethereum’s price dips below $3,100, weak network fundamentals and significant offloading by FTX and crypto hackers could worsen the situation. This article explores the factors contributing to Ethereum’s price decline and its future prospects.