Ethereum prices have fallen nearly 60% from their six-month historical highs and are currently trading around $2,100, down 31% year-to-date. Analysts believe that significant Ethereum price rebounds will require investors' sentiment to shift toward "risk-on," which could be triggered by an altcoin season. The altcoin season index currently stands at 34, well below the 75 threshold that marks the onset of altcoin season. While market expectations for Federal Reserve rate cuts in 2026 could potentially boost market liquidity, recent geopolitical tensions and tariff increases have caused investors to reassess risk, thus delaying a potential market rebound.