Ethereum is showing signs of forming a double bottom pattern, offering traders a clearer technical support level, according to BIT analysis. This development comes as Ethereum maintains its recent lows, suggesting a potentially improved technical outlook despite ongoing caution due to market fundamentals. Additionally, lower-than-expected inflation data has enhanced the macro environment for risk assets. Ethereum ETFs, which have experienced net outflows for eight consecutive months, may see net inflows this month, potentially boosting institutional demand.