According to @MilkRoadDaily, Ethereum (ETH) continues to trade below the key psychological resistance level of $4,000. This observation comes despite two significant bullish catalysts: the approval of spot ETH ETFs on May 23 and the commencement of their trading on July 2, as highlighted by the source. The inability of ETH to surpass this price point post-ETF launch suggests a period of market consolidation or that these positive developments may have already been priced in by traders.