📉 Ether (ETH) faced a 20% correction after a double top formation near $4,100, but don't fret! The ETH futures market shows moderate bullishness despite the price drop. 😏

- ETH's downturn was more pronounced than the broader crypto market, with competitors like Solana (SOL) and Binance Coin (BNB) faring better.

- Ethereum's recent network upgrade was a success, boosting layer-2 activity to an all-time high.

- However, base layer gas fees remain a concern, keeping alternative platforms like Solana and Avalanche (AVAX) appealing.

- ETH perpetual contract funding rate is near zero, indicating a market equilibrium.

- Ether futures trade at a 22% premium, suggesting optimism for Ethereum's spot exchange-traded funds (ETFs).

Stay positive, folks! The market may be recalibrating, but there's still room for optimism. 🚀