This is a full raging bear market my friends. Don't stand on the way of this freight train. I would short ethereum if Iwere you. Eth is dead until further notice.
Mate, they will have big update in the beginning of net year. As I know they going to launch hard fork in January with some existed updates and improvements. And with Bakkt and Fidelity launch at almost same time ETH can grow till few thousands
More liquidity doesn't mean higher or lower prices. All that higher liquidity does is it lowers the spread and maybe the commissions.
I don't know if you ever traded penny stocks or low cap stocks. The spreads are crazy high on those stocks due to poor liquidity, and you basically need to buy at markets or sell at market if you want a fill soon since adding a bid/ask will take a long time to fill. If its a stock like AAPL with very high liquidity then you never have issues with fills.
However I don't think this BAKT will make much difference since the futures listing exactly 1 year ago caused this huge bear market.