CoinMeta data: According to U.Today, the liquidity conditions for Ethereum on Binance have continued to weaken, with its liquidity impact Z-score significantly dropping to its lowest level in nearly seven months, at around -1.00. Although this indicator has fluctuated over the past few months, the recent sharp decline has drawn the attention of market analysts. After a gradual recovery in liquidity indicators during the summer, there was a sudden reversal in October, leading to the current level. It is important to note that a sharp decline in liquidity levels does not necessarily mean that traders are exiting or investors are selling Ethereum; rather, it usually indicates that there have been changes in liquidity conditions. At the same time, this decline in liquidity indicators coincides with a reduction in the supply of Ethereum on exchanges, suggesting that investors are moving their holdings to private wallets, which could potentially provide momentum for an increase in Ethereum prices.