As the current bull market cycle continues, Ethereum‘s performance has been considered weak compared to other major altcoins like Dogecoin and XRP. With ETH unable to curb a major rally, many investors and traders are starting to demonstrate extreme caution toward the digital asset.

Investors Becoming More Cautious Of Ethereum

Ethereum’s persistent negative performances have triggered caution among investors and traders. Advanced on-chain data analytics and investment platform Alphractal highlighted that identified the waning investors’ sentiment, indicating a decline in risk appetite.

This shift in market dynamics shows that there is a slowdown in aggressive buying as investors and traders adopt a more protective strategy in light of heightened volatility and worrying macroeconomic conditions. 

With the risk appetite for Ethereum decreasing, this raises the question of whether the present hesitancy may soon lead to additional price corrections or consolidation. However, the situation for ETH seems to be more delicate.

After navigating Ethereum’s Normalized Risk Metric (NRM), the platform stated that the risk appetite has dropped to the 0.38 level. It is important to note that this level has been seen in the past, leading to periods of high volatility. When the metric’s value rises to 1, it indicates heightened risk and overbought conditions. Meanwhile, when the value dro

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Author: Godspower Owie

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