ETH bounces off $1.8K as multiple Ether price metrics point to prolonged weakness

Ether faces a bearish trend as onchain fees and network deposits hit multiyear lows. Until derivatives metrics stabilize, ETH price remains at risk.Key takeaways:ETH futures liquidations reached $224 million after a 9% price drop, while the network’s onchain activity fell to a 12-month low.ETH’s high correlation with Bitcoin and massive outflows from exchange-traded funds suggest further downside risk for Ether price.Read more