The news article discusses the recent dip in the price of Ethereum (ETH) on Binance. ETH reached its lowest level since April 2023, falling to $1,993, before recovering to $2,050. This drop in price has caused ETH to enter bear market territory, despite expectations for a positive performance in Q1. The overall weak sentiment for altcoins and the impact of trading tariffs set by President Trump have contributed to the decline. Additionally, there are concerns about the long-term utility of ETH and doubts about its future. Traders remain cautious, and both retail and smart money have turned bearish on ETH. However, there is still some buying activity from whales and smaller investors who see potential in the current price range. Furthermore, the movement of ETH by the Bybit hacker and the potential selling of ETH by the World Liberty Fi fund are factors that have added selling pressure to the market.



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