Ethereum is facing a precarious situation as it teeters on the edge of a seventh consecutive monthly decline. This would mark a rare event in the cryptocurrency market, where prices have fallen consecutively for seven months.
According to recent data, large holders with addresses holding between 100,000 and 1,000,000 ETH have reduced their reserves over the past 90 days. This reduction is occurring outside of exchanges, indicating a genuine de-risking strategy rather than short-term trading preparation.
The macro environment is also not helping Ethereum's cause, as sticky inflation has dampened institutional appetite for risk. If this trend continues, the $1,800 level becomes a crucial support to watch.