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Several factors could be contributing to this aggressive selling behavior. For instance, the overall bearish sentiment on the crypto market could be influencing to sell off their positions in anticipation of further declines. Moreover, traders might be realizing profits from previous gains, contributing to increased selling pressure.
Notably, futures traders often employ speculative strategies that can amplify market movements, both upwards and downwards. For Ethereum to reverse this bearish trend, a significant shift in and trading behavior is necessary. Moreover, broader economic conditions, such as regulatory clarity or positive macroeconomic trends, could impact trader sentiment positively.
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