Matrixport: Current Market Lacks Catalyst to Propel Ethereum's Ongoing Recovery, Investors Still Await

BlockBeats News, December 23rd, Matrixport released its daily chart, stating that the rebound of Ethereum and other altcoins seems to be short-lived, struggling to form a sustained uptrend. Looking at the trend of Bitcoin dominance, Bitcoin still firmly holds market dominance.

The current market lacks obvious bullish news to support Ethereum's continuous recovery. Investor sentiment is becoming more conservative, and Ethereum's dominance is once again declining. Since the launch of Ethereum ETFs in early summer 2024, this downward trend has gradually emerged, and even though these funds have attracted billions of dollars in inflows, they have not been able to change the downturn.

For Ethereum investors, patience may still be required. It is expected that in 2025, if the market environment becomes more favorable, Ethereum is likely to usher in a new uptrend, injecting confidence into the market and reversing the current slump.