Ethereum DeFi TVL Plunges $10B From 2023 Peak, Is The Bull Run Still In The Cards?

Ethereum is generally sliding in a wide descending trendline amid extremely low volatility and dwindling trading volumes. It has become increasingly difficult for bulls to sustain the uptrend since June, with recovery attempts quickly giving back accrued gains. The latest dip below $1,600 saw ETH plunging to $1,564 before a minor rebound to $1,598 on Monday.