When a token loses its bullish momentum, reigniting it is hard.
When a token struggles to pump, it becomes unappealing/boring, and people just .... don't buy.
We then create narratives to explain its underperformance.
Ethereum had bullish momentum at the start of this cycle, but SOL and BTC overshadowed it.
ETH ETFs didn't help (I believe big Grayscale outflows from investors you bought Grayscale's ETHE at a spot discount was a big reason)
Now, despite multiple bullish catalysts for $ETH (new leadership, stablecoin adoption etc.) $ETH isn't budging much.
It needs a disbelief rally to make people think "Maybe $ETH is actually the future of finance?" and ppl will start believing again.
This requires big capital inflows but ETH ETF inflows look promising.
Same applies to other tokens too: $SOL has lost the momentum and $HYPE might've reached local top.
Though $HYPE has passive buys in millions of $$$ so it still looks good to me.
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