Ethereum ETF outflows and cautious traders show limited confidence in ETH price. Low derivatives premiums suggest a muted outlook for Ether’s price. ETH fell 11% over the past week, with concerns about global economic growth and the ongoing US government shutdown. Ether futures are trading at a 4% premium to spot markets, signaling limited bullish positions.

Market anxiety grew as US consumer sentiment expectations hit record lows. Ether investors are frustrated with ETH’s underperformance compared to the broader crypto market. Total value locked on Ethereum fell to $74 billion, the lowest since July. Ethereum DApps revenue declined in October, posing concerns for ETH holders.

Ethereum shows early signs of strength with active addresses and transactions rising. ETH trader sentiment is weighed down by lack of demand for Ethereum spot ETFs. The upcoming Fusaka upgrade in December is the only clear catalyst for ETH, but chances of a breakout towards $3,900 in the short term are limited.

Read more at Cointelegraph: Ethereum Struggles to Reclaim $3,900 as Weak Demand and Fear Persist