Ethereum Price Dips Below $1,900 Amid Bearish Pressure

Ethereum's price has taken a hit, dropping below the $1,900 threshold in the Asian session on Tuesday. This move continues a 30-day depreciation of around 38% for the cryptocurrency.

One key metric that suggests bearish pressure is the realised price of ETH, which currently stands at approximately $2,380. This is significantly higher than the current market price of about $1,830, indicating that many investors are holding onto losing positions.

The Ethereum Coinbase Premium Index has also turned negative, and institutional demand has weakened due to outflows from U.S. spot Ethereum ETFs. These developments suggest that the bearish phase may not be over yet, potentially leading to further selling pressure in the market.