Ethereum's price has dropped 11% over the past week, reflecting cautious investor sentiment amid macroeconomic uncertainties and declining engagement in decentralized finance (DeFi). The cryptocurrency underperformed the broader market, which saw a 4% weekly loss. DeFi total value locked on Ethereum networks hit its lowest level since July, while over $500 million in ETF outflows were recorded in November. Ether futures are trading at a 4% premium, indicating limited trader enthusiasm. The upcoming Fusaka upgrade in December aims to enhance scalability and security, though its potential to shift current market sentiment remains unclear.