Ethereum Faces Limited Institutional Demand and Economic Uncertainty, Potentially Capping ETH Price Near $3,800

Key Points

1. Ethereum's price remains capped near $3,800, constrained by weak institutional demand and a lack of strong market catalysts.

2. Total Value Locked (TVL) on Ethereum has fallen by 9% in 30 days, while competing networks like BNB Chain and Solana saw increases of 8% and 4%, respectively.

3. Institutional interest in Ethereum has weakened, evidenced by ETH trading at a discount on Coinbase and Kraken, and $129 million in net outflows from Ether spot ETFs.

4. Ether’s 3-month futures premium stands at 5%, indicating a neutral-to-bearish outlook, and the 25% delta skew in options markets rose to 6%, showing increased demand for protective puts.

5. Without renewed institutional inflows or new catalysts, ETH is unlikely to surpass the $3,800 resistance level.