Ethereum is facing difficulties in regaining the $4,000 price level as its network activity has decreased by 23%. This decline comes amid increasing competition from other blockchain platforms such as Solana and BNB Chain, as well as the growing popularity of altcoin ETFs. These factors are contributing to the pressure on Ethereum's market position. The intensified competition and reduced network activity are significant hurdles for Ethereum as it approaches the end of 2025. The cryptocurrency community is closely watching to see if Ethereum can overcome these challenges and turn bullish before the year concludes.