Svmuu News: BIT posted on the X platform stating that Ethereum has broken below a key technical support level and is currently forming a bearish flag pattern, which typically signals that the downtrend may continue. The analyst noted that a similar pattern appeared in January of this year, followed by a significant price decline. Regarding market liquidity, the report noted that trading volume remains persistently low, with insufficient market participation. Additionally, the Ethereum ETF has experienced continuous net outflows since last September, with no significant improvement observed recently.Meanwhile, the minting of USDC has slowed and turned to net outflows, reflecting that the recovery of liquidity within the ecosystem remains fragile. Against the backdrop of on-chain activity and DeFi demand showing no significant signs of recovery, it will take time for demand for Ethereums to rebound.