Users of the decentralized prediction market platform Myriad appear to be placing more weight on the possibility of a short-term decline in ETH. The current market sees a higher probability of ETH falling to $1500 than rebounding to $3000, with the betting probability for ETH to drop to $1500 rising by over 13% in the past week to reach 63%. ETH is currently trading around $2000, and with outflows from spot ETH ETFs continuing for 11 consecutive trading days recently, approximately $500 million has been withdrawn. Meanwhile, Ryan Rasmussen, Global Head of Research at Bitwise, stated, 'The current cryptocurrency market is in a bearish phase,' but added, 'Institutions are still continuing to build Ethereum-based infrastructure.'
