Ether Briefly Reclaims $3,000 as Demand Signals Turn Bearish

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Ether (ETH) posted modest gains over the past 24 hours, briefly reclaiming the $3,000 psychological level. However, weakening demand indicators suggest the move may lack strong support.

Ethereum demand metrics have declined sharply since mid-December, pointing to aggressive distribution as prices test key levels. Capriole Investments’ “Ethereum Apparent Demand” fell from over 92,000 ETH in December to negative territory in mid-January, before recovering slightly.

Historically, similar demand conditions have preceded deeper corrections. The last time demand reached comparable levels, ETH traded near $2,200 before falling roughly 25% within days.

Combined with heavy spot Ether ETF outflows and a fragile technical structure, analysts warn that ETH may struggle to maintain its current range without renewed buying pressure.

[bonk]

historic 25% drops after similar setups = textbook risk management scenario. charts + metrics align for potential downside