Ether (ETH) is experiencing a sell-off and may witness a deeper correction before recovery as it dropped below the crucial $1,500 support level.The weak flows in spot Ethereum ETFs indicate a lack of investor interest, particularly institutional demand.Low open interest and negative funding rates in Ether's derivatives market suggest waning investor confidence.Competing layer-1 blockchains, such as BNB Chain, Solana, Avalanche, and Tron, are outpacing Ethereum in network activity.