Ethereum (ETH) has fallen by 55% from its peak, but buying interest to absorb the selling pressure has disappeared, according to Easy Onchain, an on-chain analytics firm. According to CryptoPotato, he analyzed, "The current crisis facing ETH is not just due to the price drop itself, but is particularly concerning due to the widening gap between the derivatives market and spot demand." He added, "ETH appears to have already entered a mid-to-long-term bear market, and the decrease in institutional participation, as shown by ETF fund flows, could be a clear warning sign. Coinbase Premium also remained negative throughout May, suggesting that US institutional investors are leaving the market."
