The percentage of ETH ($2,620.99) tokens in profit has fallen to its lowest point in over four months, and the total number of coins in profit has reached a three-month low.
Despite the prevailing negative market sentiment and retail traders offloading their holdings, there remains potential for a surprising rebound as the market stabilizes.
Ethereum’s recent profitability drop, marked by the lowest percentage of tokens in profit in four months and the fewest coins in profit in three months, highlights the challenges currently faced by Ethereum holders.
These figures suggest that a significant portion of the market is holding Ethereum at a loss, reflecting widespread bearish sentiment.
For holders, this may signal a period of discomfort, which could lead to panic selling, particularly among retail investors eager to minimize losses in response to market fear.
The drop in profitability may also indicate that many are questioning Ethereum’s near-term prospects. This negative sentiment could fuel further declines unless market conditions improve, or investor confidence is restored.
