Recently, as the launch of the US spot ETF for Ethereum in the market caused a significant drop in its price, with a cumulative decline of over 26% and a total net outflow of $420.5 million. Facing this phenomenon, Aurelie Barthere, the chief research analyst at Nansen's blockchain analysis platform, provided a different interpretation. She emphasized that the fluctuations in Ethereum prices were not due to continuous outflows of ETF funds, but reflected a change in the attitude towards risk among market participants. In the current market environment, investors have generally shown a lower risk appetite, which has become the main driving force behind the drop in Ethereum prices.