Ethereum Price Under Pressure as Institutional Buyers Struggle to Move Market

The Ethereum price has been trading around $2,390, but it's showing signs of fatigue. Over the past week, ETH shed 3%-6%, and the bounce that carried it above $2,400 last week is losing steam.

Despite institutional buyers continuing to show interest, with spot Ethereum ETFs logging inflows for a 12th consecutive session before turning red yesterday, the price refuses to follow. This suggests traders are hedging rather than accumulating.

The macro conditions aren't helping either, as rate-cut odds have been getting repriced hard this week, which tends to hit risk assets like ETH before anything else.